Open in App
Not now

# JavaScript Program to find simple interest

• Last Updated : 02 Dec, 2022

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
Where,
P is the principal amount
T is the time and
R is the rate

Examples:

```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

 ``

Output:

`Simple Interest = 0.01`

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

My Personal Notes arrow_drop_up
Related Articles