Dear reader, today we will read in Java program to to calculate simple interest.

Simple interest formula

Simple interest = (P × R × T) / 100

P is the principal amount.
R is the rate per year.
T is the time in years.

For example: Suppose a person deposits 2000 INR in a bank account for 3 years at an interest rate of 6% per annum, then compute the simple interest at the end of 3 years.

Simple interest = 2000 * 6 * 3/100 = 360 INR

Java Program to calculate simple interest

import java.util.Scanner;
public class JavaExample
{
    public static void main(String args[]) 
    {
        float p, r, t, sinterest;
        Scanner scan = new Scanner(System.in);
        System.out.print("Enter the Principal : ");
        p = scan.nextFloat();
        System.out.print("Enter the Rate of interest : ");
        r = scan.nextFloat();
        System.out.print("Enter the Time period : ");
        t = scan.nextFloat();
        scan.close();
        sinterest = (p * r * t) / 100;
        System.out.print("Simple Interest is: " +sinterest);
    }
}

Output:

Enter the Principal : 2000
Enter the Rate of interest : 6
Enter the Time period : 3
Simple Interest is: 360.0

Read here complete . JAVA Program Tutorial