Java Program to Calculate Simple Interest

This article contains program in Java, to find and print simple interest based on the data entered by user at run-time. But before creating the program, let's remind the formula to calculate simple interest.

The formula to calculate simple interest is:

SI = (P*R*T)/100

where SI refers to the Simple Interest amount, P refers to the Principle amount, R refer to the Rate of Interest, and T refers to the Time Period in Years.

Compute Simple Interest in Java

The question is, write a Java program to compute simple interest based on principle, rate, and time period entered by user at run-time of the program. The program given below is answer to this question:

import java.util.Scanner;

public class fresherearth
{
   public static void main(String[] args)
   {
      float p, r, t, si;
      Scanner scan = new Scanner(System.in);
      
      System.out.print("Enter the Principle Amount: ");
      p = scan.nextFloat();
      System.out.print("Enter the Rate of Interest: ");
      r = scan.nextFloat();
      System.out.print("Enter the Time Period (in Year): ");
      t = scan.nextFloat();
      
      si = (p*r*t)/100;
      System.out.println("\nSimple Interest = " +si);
   }
}

Here is its sample run with user input 1200 as principle amount, 8.5 as rate of interest, and 5 as number of years or time period (in years):

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