This is a program in C++ to calculate and print the simple interest based on the data entered by the user at run-time.
Simple interest is the interest that we have to pay for a principal amount for a time period with a certain rate of interest. Simple interest is a straightforward technique for calculating interest in money.
Simple Interest is calculated using the following formula: SI = P × R × T, where P = Principal, R = Rate of Interest, and T = Time period. Here, the rate given in percentage (r%) is written as r/100. And the principal is the sum of money that remains constant every year in the case of simple interest.
The formula to find simple interest is:
SI = (P*R*T)/100
Here the value of P, R, and T have to be entered by the user at run-time.
Ask the user to enter the principal amount and read the value into the variable p; Ask the user to enter the rate of interest and get the value to the variable r and ask the user to enter the time period and get the value to the variable t; calculate the simple interest by using the formula si = (p*r*t)/100;
Display the value on the variable si.
Step 1: Call the header file iostream.
Step 2: Use the namespace std.
Step 3: Open the main function; int main().
Step 4: Declare float type variables p, r, t, si;
Step 5: Ask the user to enter the principal amount
Step 6: Get the value to the variable p;
Step 7: Ask the user to enter the rate of interest;
Step 8: Get the value to the variable r;
Step 9: Ask the user to enter the time period;
Step 10: Get the value to the variable t;
Step 11: Calculate the simple interest by using the formula si = (p*r*t)/100;
Step 12: Display the result
Step 13: exit
#include<iostream>
using namespace std;
int main()
{
float p, r, t, si;
cout<<"Enter Principle Amount: ";
cin>>p;
cout<<"Enter Rate of Interest: ";
cin>>r;
cout<<"Enter Time Period: ";
cin>>t;
si = (p*r*t)/100;
cout<<"\nSimple Interest Amount: "<<si;
cout<<endl;
return 0;
}
Enter Principle Amount: 256000 Enter Rate of Interest: 8 Enter Time Period: 5 Simple Interest Amount: 102400