Java Program to Calculate Simple Interest

Simple interest is a method of calculating the interest charge on a loan in banking and economic sectors.

It gets estimated day to day with help of interest rate, principal amount and time.

First we create scanner class object to pass input data from user.
Integer.parseInt() method convert String data to Integer value.
Here we convert principal, time and rate into integer.
Now use the Simple Interest formula to calculate the rate.
Print the Simple Interest data.

Simple interest formula is :-

Simple Interest = (P x T x R)/100

Here P = principal amount, R = Rate, T = Time (years)

				
					import java.util.Scanner;

public class SimpleIntrest {
	public static void main(String[] args) {
		
		int principal, time, rate, SimpleInterest;
		Scanner sc = new Scanner(System.in);
		System.out.println("enter principal,time and rate.....");
		
		principal = Integer.parseInt(sc.next());
		time = Integer.parseInt(sc.next());
		rate = Integer.parseInt(sc.next());
		
		SimpleInterest = (principal * time * rate) / 100;
		System.out.println("Simple Intrest is..........: " + SimpleInterest);

	}
}

Output :-
enter principal,time and rate…..
1200
4
2
Simple Intrest is……….: 96