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# Java Program to Calculate Simple Interest

by | Jan 12, 2023 | Java, Java Programs

## Introduction

A simple formula gives the Simple Interest:

Simple Interest = (Principal * Time * Rate of Interest) / 100

Where,

The principal Amount is the main sum of money you put in a bank. Time is the duration during which you want to calculate the interest generated and the Rate of the interest determines how much interest will be generated against the given principal.

## Examples

Input:
P = 10,000
R = 5
T = 5
OUTPUT: 2500

The interest rate is 5%, the principal amount is 10,000, and the time is 5 years. On the basis of these numbers, we will have to find the simple interest.

Input:
P = 3000
R = 7
T = 1
OUTPUT: 210

## Sample Code

```//This is a program that shows how to calculate simple interest on a principal sum of money when //other details like rate of interest and time period are given
import java.io.*;
class Demo
{
public static void main (String args [])
{
//The required values to calculate SI
float P = 1, R = 1, T = 1;
//Mathematical formula to calculate SI
float SI = (P * T * R) / 100;
System.out.println (“Simple Interest = ” + SI);
}
}```

OUTPUT

Simple Interest = 0.01