C++ Program To Find Simple Interest
What is ‘Simple Interest’?
Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Simple Interest formula:
Simple interest formula is given by:
Simple Interest = (P x T x R)/100
Where,
P is the principal amount
T is the time and
R is the rate
Examples :
Example 1: Input: P = 10000 R = 5 T = 5 Output: 2500 We need to find simple interest on Rs. 10,000 at the rate of 5% for 5 units of time. Example 2: Input: P = 3000 R = 7 T = 1 Output: 210
The formula to calculate the simple interest is:
simple_interest = (P * T * R) / 100
where P is the principal amount, T is time & R is the rate of interest.
Below is the implementation of the above example:
C++
// C++ program to find simple interest // for given principal amount, time // and rate of interest. #include<iostream> using namespace std; // Driver code int main() { // We can change values here for // different inputs float P = 1, R = 1, T = 1; // Calculate simple interest float SI = (P * T * R) / 100; // Print the resultant value of SI cout << "Simple Interest = " << SI; return 0; } |
Output:
Simple Interest: 0.01
Time complexity: O(1).
Auxiliary space: O(1).
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