In this post, we will learn how to calculate simple interest using C++ Programming language.
Simple interest is a method of calculating the interest amount for some principal amount.
The formula for calculating simple interest is (P x R x T) / 100, where P is the principal amount, R is the rate of interest and T is the time period.
We will be using the same formula in our program to compute simple interest.
So, without further ado, let’s begin this tutorial.
C++ Program to Calculate Simple Interest
// C++ Program to Calculate Simple Interest
#include <iostream>
using namespace std;
int main(){
int p, t, r, SI;
// Asking for input
cout << "Enter the principal amount: ";
cin >> p;
cout << "Enter the time period(in years): ";
cin >> t;
cout << "Enter the rate of interest: ";
cin >> r;
// Calculating simple interest
SI = (p*r*t) / 100;
// Displaying output
cout << "Simple Interest: " << SI << endl;
return 0;
}
Output
Enter the principal amount: 3000
Enter the time period(in years): 2
Enter the rate of interest: 5
Simple Interest: 300
How Does This Program Work ?
int p, t, r, SI;
In this program, we have declared some int data type variables which will store the values of amount, time, rate and interest.
// Asking for input
cout << "Enter the principal amount: ";
cin >> p;
cout << "Enter the time period(in years): ";
cin >> t;
cout << "Enter the rate of interest: ";
cin >> r;
Then, the user is asked to enter the value of principal amount, time period and rate of interest.
// Calculating simple interest
SI = (p*r*t) / 100;
We calculate the simple interest using the formula (P x R X T) / 100.
// Displaying output
cout << "Simple Interest: " << SI << endl;
Finally, the simple interest calculated above is displayed to the screen using the cout statement.
Conclusion
I hope after going through this post, you understand how to calculate simple interest using C++ Programming language.
If you have any doubt regarding the program, feel free to contact us in the comment section. We will be delighted to help you.
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