JavaScript Program to Find Simple Interest

To find simple interest in javascript, we will find the product of principal amount, rate of interest(%) and time period. Simple intrest is a quick and easy method to find the intrest charge or extra amount paid by borrower to lender on certain amount of principal within a time period.

In this article we are given a data of principal, rate and time, our task is to write a JavaScript program to find simple interest. Users must be familiar with the formula to calculate the simple interest, arithemetic operators in javascript and javascript functions.

Formula:

Simple Intrest(SI): (p * r * t)/100
where,
p = Principal amount
r = Rate of interest
t = Time period

Example

Input:
p = 12000, r = 5, t = 2

SI = (p*r*t)/100
SI = (12000*5*2)/100

Output:
SI = 1200

Steps to Find Simple Interest

We will be following below mentioned steps to find simple intrest.

• First, we have declared three variables principal, rate, and time to store the principal amount, rate of interest, and time in years respectively.
• Then we have defined a function interest() to find the simple intrest and passed p, r and t as arguments representing principal, rate and time respectively.
• The function returns the intrest amount by calculating (p*r*t)/100. Simple intrest is calculated by calling the function intrest() by passing principal, rate and time variables as arguments, and is stored in the variable simpleIntrest.
• The output is displayed in web console using console.log().

Example

Here is an example code implementing above mentioned steps to find simple intrest using JavaScript.

let principal=12000, rate=5, time=2;
function interest(p, r, t) {
    return (p*r*t)/100;
}
let simpleIntrest = interest(principal, rate, time);
console.log("Simple intrest: " +simpleIntrest); 

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