Algorithm And Flowchart To Calculate Simple Interest And Compound Interest

Increase t by 1 6. The algorithm to calculate the simple interest and compound interest is as follows. Store it in some variable say principle.

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Amount rate time si amount rate time 100 start print si stop.

Algorithm and flowchart to calculate simple interest and compound interest. Calculate compound interest using formula compound interest principle 1 rate 100 time. Read principal amount rate and time step 3. Set the count t to 1 implying the end of a year. Calculate s i ptr 100 4.

C program to find the simple interest algorithm step 1. Not a very complicated algorithm all you need to do is to multiply capital x interest rate x number of time periods. Algorithm and flowcharts helps to clarify all the steps for solving the problem. I have shqwn how to use a calculator to find n in the compound interest formula for students who do not have the skill for logs.

Simple interest is a quick method of calculating the interest charge on a loan. Step 2 read principal amount rate and time. Input time in some variable say time. Read the values of principal amount time and rate of simple interest into the locations labelled as p t r.

C program to calculate gross salary of a person. Calculate interest using formula si amount rate time 100 step 4. Finally print the resultant value of ci. Compound interest p 1 r 100 r where p is principle amount r is the rate and t is the time span.

An algorithm is a step by step analysis of the process while a flowchart explains the steps of a program in a graphical way. If the interest rate is expressed in percent you also need to divide. Step 3 calculate interest using formula si amount rate time 100 step 4 print simple interest. And write an interactive program to calculate simple interest and compound interest.

Algorithm and flowchart are the powerful tools for learning programming. Write the current values of t and s i. Formula to calculate simple interest i based on given p r and n is as under. Print simple interest step 5.

Compound interest p 1 r 100 r where p is principle amount r is the rate and t is the time span. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments. Simple interest formula. Input rate in some variable say rate.

If t 5 complete the steps from 3 to 6 7. I have also created a flow chart to show the algorithm used. In the following flowchart p is principle amount r is rate of interest n is number of years and i is used for simple interest.