Simple interest

Simple interest is a simple way to calculate the interest on a loan. Simple interest is determined by multiplying the principal by the daily interest rate multiplied by the number of days elapsed between payments. – Investopedia

Logic

After taking the input (Principle, Rate, Time) from the user we have to use a very simple formula shown below:

Simple interest formula

Where, P = Principle, T = Time and R = Rate

To calculate simple interest we have to multiply the principal, rate and time, then divide it by 100 and print the result.

Program

SimpleInterest.CCopy
#include<stdio.h>

int main() {

    float principal, rate, time, result;
    
    printf("Enter principal : ");
    scanf("%f", &principal);

    printf("\nEnter rate : ");
    scanf("%f", &rate);

    printf("\nEnter time (year) : ");
    scanf("%f", &time);

    // Calculate simple interest
    result = (principal * rate * time) / 100;

    printf("\nSimple interest : %f", result);

    return 0;
}
Try It

Output

Enter principal : 1000
Enter rate : 4
Enter time (year) : 2
Simple interest : 80.000000