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Python Program for compound interest
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
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.
Updated on: 25-Sep-2019
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