Java program to compute simple interest on the principal amount.

Problem Statement

Write a Java program to compute simple interest on the given principal amount. In this tutorial, we will write a simple java program to compute the simple interest amount.

Before writing the program, we would analyze the IPO(Input-Process-Output) of the program as given below.

IPO chart

Input to the Program:

P = principal Amount
R = Rate per annum
T = Time (years)

Process

Simple Interest = P * T * R 100

Eclipse IDE Setup

Some steps and instructions to create a Java application on Eclipse IDE:

Create Java Project in Eclipse

https://www.testingdocs.com/create-a-new-java-project-in-eclipse/

Create Java Package in Eclipse

https://www.testingdocs.com/create-java-package-in-eclipse-ide/

Create Java Class in Eclipse

https://www.testingdocs.com/create-a-new-java-class-in-a-project/

Run Java Project in Eclipse

https://www.testingdocs.com/run-java-project-in-eclipse/

Java Program

package com.testingdocs.simple;

import java.util.Scanner;

/**************************************************
 * SimpleInterest.java
 * @program : 
 * @web : www.TestingDocs.com
 * @author : 
 * @version : 1.0
 **************************************************/

public class SimpleInterest {

 public static void main(String[] args) {
 
 Scanner input = new Scanner(System.in);
 // Variables used 
 double principal, rateOfInterest , timeInYears;
 double simpleInterest;
 // Prompt user for input
 System.out.println("Enter principal amount:= ");
 principal = input.nextDouble();
 System.out.println("Enter rate of interest:= ");
 rateOfInterest= input.nextDouble();
 System.out.println("Enter time duration in years := ");
 timeInYears = input.nextDouble();
 
 //Calculation
 simpleInterest = ( principal * rateOfInterest * timeInYears )/100;
 //Output
 System.out.println("Simple Interest = " + simpleInterest);
 }

}