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# Flowchart To Calculate Simple Interest? The 30 Detailed Answer

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In the following flowchart, P is Principle amount, R is Rate of Interest, N is number of years and I is used for Simple Interest. Formula to calculate Simple Interest (I) based on given P, R and N is as under: I = (P * R * N) / 100 Fig. Flowchart to Calculate Simple Interest

## Write an Algorithm to calculate Simple Interest |Algorithm| Flowchart|

Write an Algorithm to calculate Simple Interest |Algorithm| Flowchart|
Write an Algorithm to calculate Simple Interest |Algorithm| Flowchart|

## How to find the simple interest algorithm and flowchart?

Algorithm and Flowchart – 1 C Program to find the simple… This preview shows page 1 – 9 out of 30 pages. 1. C Program to find the simple interest Algorithm Step 1: Start Step 2: Read Principal Amount, Rate and Time Step 3: Calculate Interest using formula SI= ( (amount*rate*time)/100) Step 4: Print Simple Interest Step 5: Stop Flowchart 2.

In this post, we will be writing a simple algorithm and drawing a flowchart for calculating Simple Interest. Inputs: Principle Amount(PA), RateOfInterest(ROI), Time Formula to Calculate Simple Interest(SI): SI=((PA*ROI*Time)/100) Algorithm to find Simple Interest:

How to calculate simple interest in C program?

C Program to find the simple interest Algorithm Step 1: Start Step 2: Read Principal Amount, Rate and Time Step 3: Calculate Interest using formula SI= ( (amount*rate*time)/100) Step 4: Print Simple Interest Step 5: Stop Flowchart 2. C Program to calculate gross salary of a person.

How to create algorithm flowchart?

And the steps of creating algorithms flowcharts are described below: 1 Select an appropriate template. 2 Customize the template according to your needs. 3 Add content to the template. 4 Export your algorithm flowchart to the file format that you want.

What is a flowchart in Computer Science?

A flowchart is the graphical or pictorial representation of an algorithm with the help of different symbols, shapes, and arrows to demonstrate a process or a program. With algorithms, we can easily understand a program.

How to use two string functions gets () and puts () in flowchart?

Flowchart 23.C program to use two string functions gets () and puts () to take string input from user and display string respectively. Algorithm Step 1: Start Step 2: Prompt user to enter a string Step 3: Read the string Step 4: Print the string using puts START Declare two strings Merge two strings Print both the strings STOP

## What is the formula to calculate simple interest(I)?

In the following flowchart, P is Principle amount, R is Rate of Interest, N is number of years and I is used for Simple Interest. Formula to calculate Simple Interest (I) based on given P, R and N is as under: Here, P = Principal amount, R = Rate of Interest, N = No. of years and I = Simple Interest.

Formula to Find Simple Interest A standard formula to find simple interest in math is as below;- S.I = (P × R × T)/100

How do you calculate simple interest in a calculator?

Calculator Use. Calculate simple interest on the principal only, I = Prt. Simple interest does not include the effect of compounding. Simple Interest Formula. Where: Notes: Base formula, written as I = Prt or I = P × r × t where rate r and time t should be in the same time units such as months or years.

What is simple interest (Si)?

Simple Interest Formula | How to Calculate Simple Interest? Simple Interest (SI) is a way of calculating the amount of interest that is to be paid on the principal and is calculated by an easy formula, which is by multiplying the principal amount with the rate of interest and the number of periods for which the interest has to be paid.

What is the compound interest formula?

In the compound interest formula, just as in the simple interest formula, the interest rate is symbolized by the letter “r.”. Divide the percentage by 100 to get the decimal value. For example, if the annual interest rate on your mortgage is 8%, you would use 0.08 in the compound interest formula.

What is an interest rate formula and how is it used?

An interest rate formula is used to calculate the repayment amounts for loans and interest over investment on fixed deposits, mutual funds, etc. It is also used to calculate interest on a credit card.

## How do you find the rate of interest in decimal form?

Where r is in decimal form; r=R/100. r and t are in the same units of time. Calculate Interest, solve for I I = Prt. Calculate Principal Amount, solve for P P = I / rt. Calculate rate of interest in decimal, solve for r r = I / Pt. Calculate rate of interest in percent R = r * 100. Calculate time, solve for t t = I / Pr.

Convert the annual rate from a percent to a decimal by dividing by 100: 10/100 = 0.10 Now divide that number by 12 to get the monthly interest rate in decimal form: 0.10/12 = 0.0083 To calculate the monthly interest on \$2,000, multiply that number by the total amount: 0.0083 x \$2,000 = \$16.60 per month

## What is the simple interest rate for 5 years?

Simple Interest = Principal * Interest Rate * Time Period Simple Interest =\$5000 * 10%*5 =\$2500 Total Simple Interest for 5 years= \$2500

What is the cost of 5 years of interest?

for 5 years is \$ 1,937.50. Paste this link in email, text or social media. Calculate simple interest on the principal only, I = Prt. Simple interest does not include the effect of compounding. Notes: Base formula, written as I = Prt or I = P × r × t where rate r and time t should be in the same time units such as months or years.

How to calculate simple interest due after 5 years?

Calculate the simple interest and total amount due after 5 years. So now we will do the calculation this using the simple interest equation i.e Simple Interest = Principal * Interest Rate * Time Period

How do you calculate simple interest rate?

Simple Interest Formula. I = Prt. Where: P = Principal Amount. I = Interest Amount. r = Rate of Interest per year in decimal; r = R/100. R = Rate of Interest per year as a percent; R = r * 100. t = Time Periods involved.

What is simple interest with example?

Simple Interest (S.I.) is the method of calculating the interest amount for a particular principal amount of money at some rate of interest. For example, when a person takes a loan of Rs. 5000, at a rate of 10 p.a. for two years, the person’s interest for two years will S.I. on the borrowed money. What is simple interest and compound interest?

References:

Algorithm and Flowchart – 1. C Program to find the simple …

Simple Interest Formula | How to Calculate Simple Interest?

Simple Interest Calculator I = Prt

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What is simple interest with example?

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What is the formula to calculate simple interest(I)?

flowchart to calculate simple interest

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