CPP program to calculate simple interest and compound interest

In this article we will learn to implement a CPP program to calculate simple interest and compound interest.

A program that computes the simple interest and compound interest payable on principal amount(in Rs.) of loan borrowed by the customer from a bank for a given period of time (in years) at specific rate of interest. Assume that interest is compounded monthly.

Program is as follows:

#include <iostream>
#include <cmath>
using namespace std;
int main()
{
	int p;
	float r;
	int t;
	cout<<"Enter principal amount: ";
	cin>>p;
	cout<<"Enter rate of interest: ";
	cin>>r;
	cout<<"Enter time period (in years): ";
	cin>>t;
	float si = p*r*t;
	cout<<"Simple interest to be paid is: Rs."<<si<<endl;
	float total = p * pow((1+r/12), (12*t));
	float ci = total - p;
	cout<<"Compound interest to be paid is: Rs. "<<ci<<endl;
	return 0;
}

Input and output for the above program are as follows:

Enter principal amount: 10000
Enter rate of interest: 0.1
Enter time period (in years): 5
Simple interest to be paid is: Rs.5000
Compound interest to be paid is: Rs. 6453.08

Suryateja Pericherla

Suryateja Pericherla, at present is a Research Scholar (full-time Ph.D.) in the Dept. of Computer Science & Systems Engineering at Andhra University, Visakhapatnam. Previously worked as an Associate Professor in the Dept. of CSE at Vishnu Institute of Technology, India.

He has 11+ years of teaching experience and is an individual researcher whose research interests are Cloud Computing, Internet of Things, Computer Security, Network Security and Blockchain.

He is a member of professional societies like IEEE, ACM, CSI and ISCA. He published several research papers which are indexed by SCIE, WoS, Scopus, Springer and others.