python program for simple interest | python programs example

python program for simple interest | python programs example
Simple interest formula is given by: Simple Interest = (P x T x R)/100 Where, P is the principal amount T is the time and R is the rate

What is ‘Simple Interest’?
Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

#Python3 program to find simple interest
# for given principal amount, time and
# rate of interest.


def simple_interest(p,t,r):
print('The principal is', p)
print('The time period is', t)
print('The rate of interest is',r)

si = (p * t * r)/100
print('The Simple Interest is', si)

simple_interest(8, 6, 8)

We can calculate the simple interest by taking P,T and R from the user.

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