How to calculate simple interest in Java or Write a Java program to
calculate Simple interest is a popular Java
programming exercise people use in Java course in school and college. So if
you have recently got an homework exercise about calculating Simple interest in
Java and wondering How to write Java program than this tutorial can help you,
provided you know What is simple interest and What is formula of simple
interest. If you are completely new in Java programming than I would suggest to
try HelloWorld
Example in Java and understand What
is Path and Classpath in Java. IF you have been doing Java programming and
looking for some good coding
exercise than you can also see our earlier programs e.g. calculating
Fibonacci series using recursion, checking if number is palindrome
and How to reverse
String in Java using recursion.

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__How to calculate Simple Interest in Java__

Here is full code example of

*Java program to calculate Simple Interest in Java*. This is an interactive Java program which accept Input from User using java.util.Scanner class. By the way simpleInterest() method is reusable method and I have made it static so that I can call it from main method in Java without creating object of this class. Its good Java practice to make utility method static.
/**

*

*

* Input to program is principle, rate and time and output is simple interest

* @author

*/

}

}

}

Welcome in Java program to calculate Simple interest

Please enter principle amount :

1000

Enter time in years :

1

Enter rate annually :

7

Simple interested calculate by program is : 70.0

*

*

**Java program to calculate Simple Interest in Java.*** Input to program is principle, rate and time and output is simple interest

* @author

*/

**public****class**SimpleInterestTest{**public****static****void**main(**String**args[]) {*//creating scanner to accept principle, rate and time input form user***Scanner**scanner =**new****Scanner**(**System**.in);**System**.out.println("Welcome in Java program to calculate Simple interest");**System**.err.println("Please enter principle amount :");**float**amount = scanner.nextFloat();**System**.err.println("Enter time in years : ");**float**time = scanner.nextFloat();**System**.out.println("Enter rate annually : ");**float**rate = scanner.nextFloat();**float**interest = simpleInterest(amount, rate, time);**System**.out.println("Simple interested calculate by program is : " + interest);}

**public****static****float**simpleInterest(**float**principle,**float**rate,**float**time){**float**interest = (principle*rate*time)/100;**return**interest;}

}

**Output:**Welcome in Java program to calculate Simple interest

Please enter principle amount :

1000

Enter time in years :

1

Enter rate annually :

7

Simple interested calculate by program is : 70.0

So we saw we have create a static
method to

*calculate simple interest for given amount, rate and time*. By the way this Java program is not validating input e.g. time must be greater than zero, rate should be more than zero, amount can not be zero or negative, which will be require if you are writing production code.
Some more

**Java Coding Exercise**for Programmer
Nice one. Thanks for sharing your knowledge regarding the formula for calculating simple interest .

ReplyDeletei have one doubt, this output amount is per month rate or per year rate.

ReplyDeleteper year rate not per month...

ReplyDeleteExcellent

ReplyDeleteThat's interesting post.

ReplyDelete