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In this article, we will learn about the calculation of simple interest in Python 3.x. Or earlier.

is calculated by multiplying the daily interest rate by the principal amount by the number of days that elapse between the payments.

**Mathematically,**

Simple Interest = (P x T x R)/100

Where,

P is the principal amount

T is the time and

R is the rate

**For Example,**

If P = 1000,R = 1,T = 2

Then SI=20.0

Now let’s see how we can implement a simple interest calculator in Python.

P = 1000 R = 1 T = 2 # simple interest SI = (P * R * T) / 100 print("simple interest is", SI)

simple interest is 20.0

Here the simple interest is obtained three arithmetic products and one arithmetic division.

Now let’s see the scope of the variables declared. As shown in the figure below all variables are declared in the **global scope**.

In this article, we learnt about simple interest and it’s implementation using Python script.

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