Question

Draw the flowchart processes of a compound interest

Answer 1

Answer:

Flowchart of compound Interest.

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Answer 2

Answer:

Flowchart of Simple Interest

Simple Interest Calculation of Savings Bank Accounts / Loan Accounts

Following flowchart describes the process of simple interest calculation.

Simple Interest calculation is one of the routine activity performed by Banks. Savings Bank account holder gets interests on their deposits in bank. Loan takers from the bank pay the interest to the bank.

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