Python program to calculate simple interest - Studyfied Program

Python program to calculate simple interest

April 1, 2019 Karan Mandal

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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 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 principal, rate and time, then divide it by 100 and print the result.

Program

SimpleInterest.py Copy

# Take inputs from user
principal = float(input("Enter principal : "))
rate = float(input("\nEnter rate : "))
time = float(input("\nEnter time (year) : "))

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

# Print the result
print("\nSimple interest :", result)

Output

Enter principal : 1000 Enter rate : 4 Enter time (year) : 2 Simple interest : 80.0

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