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Kotlin Program to Calculate Simple Interest
In this article, we will understand how to calculate the Simple Interest in Kotlin. It is the percentage interest on total principal amount. Returns are less compared to Compound Interest. Simple Interest is calculated using the formula
(principle*rate*time)/100
Below is a demonstration of the same
Suppose our input is
Principle number: 100000 Interest rate: 5 Time period in years: 2
The desired output would be
Simple Interest: 1000
Algorithm
Step 1 − START
Step 2 − Declare four integer values principalAmount, interestRate, timePeriod, simpleInterest
Step 3 − Define the values for principalAmount, interestRate, timePeriod, simpleInterest
Step 4 − Perform “(principle*rate*time)/100” to calculate the simple interest and store it in a simpleInterest variable
Step 5 − Display simpleInterest
Step 6 − STOP
Example 1
In this example, we will calculate Simple Interest in Kotlin using the above given formulae. First, declare and set the variable for the Principal amount
val principalAmount = 10000
Then, set the variables for rate of interest and time period −
val interestRate = 5 val timePeriod = 3
Now, use the above formulae to calculate the Simple Interest with the Principal, Rate of Interest and Time Period −
val simpleInterest = (principalAmount*interestRate*timePeriod)/100
Let us now see the example to compute the Simple Interest in Kotlin −
fun main() { val principalAmount = 10000 println("Principal amount is defined as: $principalAmount") val interestRate = 5 println("The rate of interest is defined as: $interestRate %") val timePeriod = 2 println("The time period is defined as: $timePeriod years") val simpleInterest = (principalAmount*interestRate*timePeriod)/100 println("
Simple Interest is: $simpleInterest") }
Output
Principal amount is defined as: 10000 The rate of interest is defined as: 5 % The time period is defined as: 2 years Simple Interest is: 1000
Example 2
In this example, we will calculate Simple Interest in Kotlin −
fun main() { val principalAmount = 10000 println("Principal amount is defined as: $principalAmount") val interestRate = 5 println("The rate of interest is defined as: $interestRate %") val timePeriod = 2 println("The time period is defined as: $timePeriod years") getSimpleInterest(principalAmount, interestRate, timePeriod) } fun getSimpleInterest(principalAmount: Int, interestRate: Int, timePeriod: Int) { val simpleInterest = (principalAmount*interestRate*timePeriod)/100 println("
Simple Interest is: $simpleInterest") }
Output
Principal amount is defined as: 10000 The rate of interest is defined as: 5 % The time period is defined as: 2 years Simple Interest is: 1000
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