Java Program to Calculate Simple Interest

Write a Java Program to Calculate Simple Interest with an example. The formula behind this Simple Interest calculation = (Principal Amount * Rate of Interest * Number of years) / 100.

This Java program allows the user to enter the Principal Amount, total Number of years, and Interest Rate. Using those values, this program finds the simple Interest using the above-specified formula.

import java.util.Scanner;

public class SimpleInterest1 {

	private static Scanner sc;
	public static void main(String[] args) 
	{
		double PAmount, ROI, TimePeriod, simpleInterset;
		sc = new Scanner(System.in);
		
		System.out.print(" Please Enter the Principal Amount : ");
		PAmount = sc.nextDouble();
		
		System.out.print(" Please Enter the Rate Of Interest : ");
		ROI = sc.nextDouble();
		
		System.out.print(" Please Enter the Time Period in Years : ");
		TimePeriod = sc.nextDouble();
		
		simpleInterset = (PAmount * ROI * TimePeriod) / 100;
		
		System.out.println("\n The Simple Interest for Principal Amount " + PAmount + " is = " + simpleInterset);
	}
}

Java Program to Calculate Simple Interest using functions

This program is the same as above, but we are creating a different method to find the Simple Interest this time.

import java.util.Scanner;

public class ScI2 {
	private static Scanner sc;
	public static void main(String[] args) 
	{
		double PAmount, ROI, TimePeriod;
		sc = new Scanner(System.in);
		
		System.out.print(" Please Enter the Principal Amount : ");
		PAmount = sc.nextDouble();
		
		System.out.print(" Please Enter the Rate Of Interest : ");
		ROI = sc.nextDouble();
		
		System.out.print(" Please Enter the Time Period in Years : ");
		TimePeriod = sc.nextDouble();
		
		calSimpleIntr(PAmount, ROI, TimePeriod);
		
	}
	public static void calSimpleIntr(double PAmount, double ROI, double TimePeriod)
	{
		double SI;
		
		SI = (PAmount * ROI * TimePeriod) / 100;
		
		System.out.println("\n The Total Amount " + PAmount + " is = " + SI);
	}
}

Instead of printing the Simple Interest from a method, this program returns a value. Next, we assign the return value to another variable within the main Java program.

import java.util.Scanner;

public class SimIn3 {

	private static Scanner sc;
	public static void main(String[] args) 
	{
		double PAmount, ROI, TimePeriod, SI;
		sc = new Scanner(System.in);
		
		System.out.print(" Please Enter the Principal Amount : ");
		PAmount = sc.nextDouble();
		
		System.out.print(" Please Enter the Rate Of Interest : ");
		ROI = sc.nextDouble();
		
		System.out.print(" Please Enter the Time Period in Years : ");
		TimePeriod = sc.nextDouble();
		
		SI =  calSimInt(PAmount, ROI, TimePeriod);
		System.out.println("\n The Simple Interest for Principal Amount " + PAmount + " is = " + SI);
		
	}
	public static double calSimInt(double PAmount, double ROI, double TimePeriod)
	{
		double SI;
		
		SI = (PAmount * ROI * TimePeriod) / 100;
		
		return SI;
	}
}