C++ Program To Find Simple Interest

Simple interest is the interest calculated on the original principal amount for a given rate and time period. In C++, it can be calculated using a simple arithmetic formula and stored in a variable.

• Uses the principal amount, rate of interest, and time period to calculate interest.
• The calculated interest is stored in a variable and can be displayed using std::cout.

Illustration

Input: P = 10000, R = 5, T = 5
Output: Simple Interest = 2500

Input: P = 3000, R = 7, T = 1
Output: Simple Interest = 210

Formula

The formula to calculate simple interest is:

\text{Simple Interest} = \frac{P \times T \times R}{100}

Where:

• P is the principal amount.
• T is the time period.
• R is the rate of interest.

Approach

• Initialize variables for the principal amount, rate of interest, and time period.
• Calculate simple interest using the formula.
• Store the result in another variable.
• Print the calculated simple interest.

Example: Program to find Simple 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;
}

Simple Interest = 0.01

Explanation: In this example, the principal amount, rate of interest, and time period are initialized using float variables. The simple interest is calculated using the formula (P * T * R) / 100 and stored in the simpleInterest variable before being displayed using std::cout.