Java Simple Interest Calculation Program

Simple Interest is calculated using the Principal Amount, Rate of Interest per year and duration in years. Java Simple Interest Calculation Program is another simple and easy program to learn the basics of java programming. It is a sequential set of statements without any conditional or looping statements.

The program given as an example here reads the principal Amount, the rate of interest and the duration to calculate simple interest. It returns the amount of interest with the following formula.

Simple Interest Amount = Principal Amount * Rate of Interest (per year)* Duration in years/100

Java Simple Interest Calculation

Let’s see how the above formula is implemented in java program to find the Simple Interest Amount for the given values.

import java.util.Scanner;
public class SimpleInterest 
{
	public static void main(String[] args) 
	{
		Scanner scObj= new Scanner(System.in);
		//Read Principal Amount  from user
		System.out.println("Principal Amount");
		int intPrinAmt = scObj.nextInt();
		//Read Rate of Interest  from user
		System.out.println("Rate of Interest");
		float intRateInterest = scObj.nextFloat();
		//Read Rate of Duration  from user
		System.out.println("Simple Interest Duration");
		int intDuration = scObj.nextInt();
		//Calculate Simple Interest
		float SimpleInterest= intPrinAmt*intRateInterest*intDuration/100;
		System.out.println("The simple interest is =" +SimpleInterest);
		
	}
}

Output