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Aryan Prajapat
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Aryan PrajapatKnowledge Contributor
Asked: July 20, 20242024-07-20T11:45:17+05:30 2024-07-20T11:45:17+05:30In: Education

Write a Python Program for calculating simple interest.

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Write a Python Program for calculating simple interest.
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  1. Aryan Prajapat
    Aryan Prajapat Knowledge Contributor
    2024-07-20T11:47:07+05:30Added an answer on July 20, 2024 at 11:47 am

    def calculate_simple_interest(principal, rate, time):
    # Simple interest formula: SI = (P * R * T) / 100
    simple_interest = (principal * rate * time) / 100
    return simple_interest

    # Input from the user
    principal = float(input(“Enter the principal amount: “))
    rate = float(input(“Enter the annual interest rate (in percentage): “))
    time = float(input(“Enter the time period (in years): “))

    # Calculate simple interest
    interest = calculate_simple_interest(principal, rate, time)

    # Display the result
    print(f”The simple interest for the principal amount ${principal}, annual interest rate of {rate}%, and time period of {time} years is ${interest}.”)

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