Java program to find simple interest

Hey guys!! Welcome to flower brackets blog. You are here to learn java program to find simple interest.

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

Also read –¬†print multiplication tables of any number in java

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

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

Let’s see java program to calculate 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

Related Posts