In this tutorial, we will **write a java program to calculate simple interest**.

To write the program on compound interest, refer this guide: Program to calculate compound interest.

## Simple Interest Formula

Simple Interest = (P × R × T)/100

**P** is Principal amount.

**R** is rate per annum.

**T** is time in years.

**For example:** **Let’s say a man deposit 2000 INR in bank account at a interest rate of 6% per annum for 3 years, calculate the simple interest at the end of 3 years.**

Simple interest = 2000*6*3/100 = 360 INR

## Java Program to calculate simple interest

In the following example we are taking the values of p, r and t from user and then we are calculating the simple interest based on entered values.

import java.util.Scanner; public class JavaExample { public static void main(String args[]) { float p, r, t, sinterest; Scanner scan = new Scanner(System.in); System.out.print("Enter the Principal : "); p = scan.nextFloat(); System.out.print("Enter the Rate of interest : "); r = scan.nextFloat(); System.out.print("Enter the Time period : "); t = scan.nextFloat(); scan.close(); sinterest = (p * r * t) / 100; System.out.print("Simple Interest is: " +sinterest); } }

**Output:**

Enter the Principal : 2000 Enter the Rate of interest : 6 Enter the Time period : 3 Simple Interest is: 360.0

Screenshot from Eclipse IDE:

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