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; } }
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