Simple Interest Program in C

Telegram Group Join Now

WhatsApp Channel Join Now

YouTube Channel Subscribe

Simple Interest Program in C

Table of Contents

Introduction

Simple Interest is the fundamental concept to calculate interest on a loan amount or invested amount paid on principal sum over a period of time. Simple Interest is calculated by considering principal amount, interest rate and period of time.

In this blog we will discuss how to calculate simple Interest and how to generate a simple Interest program in C.

Enroll now and take the first step towards a successful career. Click here to join our courses today!

Simple Interest Formula

To calculate Simple Interest, let’s go through the simple Interest formula

Simple Interest = (P * R * T) / 100

The Formula includes the variable which defines as:

P – Principal Amount i.e. the initial sum amount
R- Rate of Interest in percentage
T- Time period of the invested principal amount in years

To Calculate Simple Interest

Let’s consider an example, where principal amount is 1000, rate of interest is 5% and period of time is 3 years, so let’s calculate the simple Interest

SI = 1000 * 5/100 * 3

= 150

Algorithm for Simple Interest Program in C

Step 1 – Start The Program

Step 2- Declare the Variables which include Principal amount, Rate of Interest, years which are required to calculate simple interest.

Step 3 – Input the Variables Values for Principal amount, Rate of Interest, years

Step 4 – Calculate the Simple Interest by the formula.

Step 5- Display the Result

Step 6 – End the Program

Let’s derive the Code for Simple Interest program in C

Code-

Output-

Explanation

In this Example, we had declared three variables i.e. principal, rate, interest to calculate the simple interest. Then the User input the values for the above variables. And by using a simple Interest formula, we generated the result.

Then it prints the result by using the printf statement.

Also Read More – C++ Programming Examples

Conclusion

For Calculating the Simple Interest we consider the formula, then we implement the functional Statements in the Program for further execution process and display the result.

If you want to become proficient in C programming or any other programming language, Technogeeks Software Training Institute can help.

Technogeeks Software Training Institute can be the right choice if you’re looking to upskill in C programming or any other technology.

They offer other programming language courses like data science, cloud computing, and more.

Their practical training approach through real-time projects, case studies, and assignments can help you gain industry exposure and stand out in the job market.