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JavaScript Program to find simple interest

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  • Last Updated : 02 Dec, 2022
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What is ‘Simple Interest’?
Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

Simple Interest formula:

Simple interest formula is given by: 
Simple Interest = (P x T x R)/100 
P is the principal amount 
T is the time and 
R is the rate


Input : P = 10000
        R = 5
        T = 5
Output :2500
We need to find simple interest on 
Rs. 10,000 at the rate of 5% for 5 
units of time.

Input : P = 3000
        R = 7
        T = 1
Output :210

The formula to calculate the simple interest is: simple_interest = (P * T * R) / 100 where P is the principal amount, T is time & R is the rate of interest. 

Implementation: Below is the implementation of above approach:


    // JavaScript program to find simple interest for
    // given principal amount, time and rate of
    // interest.
    let P = 1, R = 1, T = 1;
    /* Calculate simple interest */
    let SI = (P * T * R) / 100;
    /* Print the resultant value of SI */
    console.log("Simple Interest = " + SI);


Simple Interest = 0.01

Time Complexity: O(1).
Auxiliary Space: O(1).

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