C Program to Calculate Simple Interest

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Howdy readers, today you will learn how to write a program to calculate simple interest using C Programming language.

C Program to Calculate Simple Interest

Simple interest is a method to calculate the amount of interest charged on an amount at a given rate and for a given period of time.

Simple interest is calculated using the following formula:

Simple Interest = (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 this formula in our program to compute simple interest.

So, without any delay, let’s begin this tutorial.

Table of Contents

C Program to Calculate Simple Interest

C Program

// C Program to Calculate Simple Interest
#include <stdio.h>
int main(){
    float principal, rate, time, SI;
    
    // Asking for input
    printf("Enter the principal amount: ");
    scanf("%f", &principal);
    printf("Enter the rate of interest: ");
    scanf("%f", &rate);
    printf("Enter the time period: ");
    scanf("%f", &time);
    
    // Calculating simple interest
    SI = (principal * rate * time) / 100;
    
    // Displaying output
    printf("Simple Interest: %.2f", SI);
    return 0;
}

Output

Enter the principal amount: 20000
Enter the rate of interest: 3
Enter the time period: 6
Simple Interest: 3600.00
C Program to Calculate Simple Interest

Explanation

    float principal, rate, time, SI;

In this program, we have declared four float data type variables named principal, rate, time and SI.

    // Asking for input
    printf("Enter the principal amount: ");
    scanf("%f", &principal);
    printf("Enter the rate of interest: ");
    scanf("%f", &rate);
    printf("Enter the time period: ");
    scanf("%f", &time);

Then, the user is asked to enter the principal amount, rate of interest and time period.

    // Calculating simple interest
    SI = (principal * rate * time) / 100;

We calculate the simple interest using the formula SI = (PxRxT)/100. The simple interest gets stored in the SI named variable.

    // Displaying output
    printf("Simple Interest: %.2f", SI);

Finally, the simple interest is displayed on the screen using printf() function. Here, we have used %.2f format specifier because we want to display the result only till 2 decimal places.

Conclusion

I hope after reading this post, you understand how to write a program to calculate simple interest using C Programming language.

If you face any difficulty while understanding this program, then let us know in the comment section. We will be delighted to solve your query.

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