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Program to Find Simple Interest in Python

Program to find simple interest in python for beginners to implement mathematical programs in python. Using this program we can find the interest in python program.

Simple Interest Definition in Python

Simple interest is calculated on the loan principal or the initial deposit in a savings account. Because simple interest does not compound, a creditor will only pay interest on the principal amount, and a borrower will never have to pay additional interest on the previously accrued interest.

Rate of Interest Definition in Python

An interest rate indicates how much it costs to borrow money or how much it pays to save money. If you’re a borrower, the interest rate is the fee you pay for borrowing money, expressed as a percentage of the loan’s total amount. An interest rate is a percentage that represents the rate of growth of a sum of money over time.

Program to Find Simple Interest in Python

def si_in(p,t,r):
    print('Principal Amount is', p)
    print('Time Period', t)
    print('Rate of Interest',r)
    si = (p * t * r)/100
    print('Simple Interest', si)
    return si
si_in(8, 6, 8)

Output:

Principal Amount is 8

Time Period 6

Rate of Interest 8

Simple Interest 3.84