Java program to compute simple interest on the principal amount.

admin

8 years ago

Table of Contents

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);
  }

}

Screenshot

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Java Tutorial

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https://www.testingdocs.com/java-tutorial/

More information on Java can be found on the official website:

https://www.oracle.com/in/java/