Golang Program to Compute Simple Interest Given all the Required Values

Steps

  • Read the values for principal amount, rate and time.
  • Using the formula, compute the simple interest.
  • Print the value for the computed interest.
Enter the principal amount: 200
Enter the time(years): 5
Enter the rate: 5
The simple interest is: 50
Enter the principal amount: 70000
Enter the time(years): 1
Enter the rate: 4
The simple interest is: 2800

Explanation

  • User must enter the values for the principal amount, rate and time.
  • The formula: (amount*time*rate)/100 is used to compute the simple interest.
  • The simple interest is later printed.

Example

 Live Demo

package main
import "fmt"
func main() {
   var principal, time, rate int
   fmt.Print("Enter the principal amount: ")
   fmt.Scanf("%d", &principal)
   fmt.Print("Enter the time in years: ")
   fmt.Scanf("%d", &time)
   fmt.Print("Enter the rate: ")
   fmt.Scanf("%d", &rate)
   simpleInterest :=(principal*time*rate)/100
   fmt.Println("The simple interest is: ", simpleInterest)
}

Output

Enter the principal amount: 10000
Enter the time in years: 5
Enter the rate: 5
The simple interest is: 2500

Updated on: 31-Jul-2021

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