Python Program for compound interest

PythonServer Side ProgrammingProgramming

In this article, we will learn about the solution and approach to solve the given problem statement.

Problem statement −We are given with three input values i.e principle, rate & time and we need to compute compound interest.

The code given below shows the process of computation of compound interest.

The formula used here is

Compound Interest = P(1 + R/100)r

Where,

P is the principal amount

R is the rate and

T is the time span

The implementation is given below

Example

 Live Demo

def compound_interest(principle, rate, time):
   CI = principle * (pow((1 + rate / 100), time))
   print("Compound interest : ", CI)
# main
compound_interest(10000, 7.78, 2)

Output

Compound interest : 11616.528400000001

All variables and functions are declared in global scope as shown in the figure below.

Conclusion

In this article, we learned about the approach to compute compound interest.

raja
Published on 25-Sep-2019 13:13:09
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