Python Program to Calculate Simple and Compound Interest

Python program to calculate simple and compound interest; In this tutorial, you will learn how to calculate simple interest and compound interest in python.

Python Program to Calculate Simple and Compound Interest

See the following to python program to calculate simple interest and compound interest; as shown below:

• Python Program to Calculate Simple Interest
• Python Program to Compute Compound Interest

Python Program to Calculate Simple Interest

Use the following steps to write a program to calculate simple interest in python:

• Use a python input() function in your python program that takes an input from the user.
• Next, calculate the simple interest using this SI = (P * N * R)/100  formula.
• After the end program, print the simple interest.

#Python program to calculate simple interest

P = float(input("Enter the principal amount : "))

N = float(input("Enter the number of years : "))

R = float(input("Enter the rate of interest : "))

#calculate simple interest by using this formula
SI = (P * N * R)/100

#print
print("Simple interest : {}".format(SI))

Output

Enter the principal amount :  1000
Enter the number of years :  2
Enter the rate of interest :  5
Simple interest : 100.0 

Python Program to Compute Compound Interest

Use the following steps to write a program to calculate compound interest in python:

• Use a python input() function in your python program that takes an input (principal amount, rate of interest, time) from the user.
• Next, calculate the compound interest using this p * (pow((1 + r / 100), t))  formula.
• After the end program, print the compound interest.

#Python program to compute compound interest

p = float(input("Enter the principal amount : "))

t = float(input("Enter the number of years : "))

r = float(input("Enter the rate of interest : "))

#compute compound interest
ci =  p * (pow((1 + r / 100), t))

#print
print("Compound interest : {}".format(ci))

Output

Enter the principal amount :  1000
Enter the number of years :  2
Enter the rate of interest :  5
Compound interest : 1102.5 

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