Java program to find simple interest

You are here to learn java program to find simple interest.

Program to find the simple interest

Simple interest is used to enumerate interest on loan in banks. It is calculated by using formula,

Also read – java reverse string array

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

In the below java program for simple interest user enters principal amount, rate and time in years. Then using above formula simple interest  is found.

Let’s see program to find the simple interest,

import java.util.Scanner;

public class SimpleInterestJavaProgram
{
   public static void main(String[] args) 
   {
      float principal, rate, time;
      Scanner sc = new Scanner(System.in);
      System.out.print("Enter principal amount : ");
      principal = sc.nextFloat();
      System.out.print("Please enter rate annually : ");
      rate = sc.nextFloat();
      System.out.print("Please enter time(in years) : ");
      time = sc.nextFloat();
      float simpleInterest;
      simpleInterest = (principal * time * rate) / 100;
      System.out.print("The Simple Interest is : " + simpleInterest);
      sc.close();
   }
}

Output:

java program to find simple interest