Java Program to Calculate Simple Interest

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Java Program to Calculate Simple Interest

• Java program to find the simple interest

In this java program to calculate simple interest, we first take amount, duration in year and rate of interest as input from user and use following equation to calculate simple interest.

Simple Interest = (Principle x Rate x Time) / 100

Java program to calculate simple interest

package com.tcc.java.programs;
 
import java.util.Scanner;
 
/**
 * Java Program to calculate Simple Interest
 */
class SimpleInterest {
    public static void main(String[] args) {
        double principal, time, rate, SI;
 
        Scanner scanner = new Scanner(System.in);
        // Taking input from user
        System.out.println("Enter Amount");
        principal = scanner.nextDouble();
 
        System.out.println("Enter Duration in Years");
        time = scanner.nextDouble();
 
        System.out.println("Enter Rate of Interest");
        rate = scanner.nextDouble();
        // Calculate Simple Interest
        SI = (principal * time * rate) / 100;
 
        System.out.format("Simple Interest = %f", SI);
    }
}

Output

Enter Amount
10000
Enter Duration in Years
3
Enter Rate of Interest
10
Simple Interest = 3000.000000