Question

What is Algorithm? Give an Example For Simple Interest?

Answer 1

Answer:

An algorithm is a step by step method of solving a problem. It is commonly used for data processing, calculation and other related computer and mathematical operations.

Example:

A total of $1,200 is invested at a simple interest rate of 6% for 4 months. How much interest is earned on this investment?

Solution

Before we can apply the formula, we will need to write the time of 4 months in terms of years. Since there are 12 months in a year:

t=412=13

With this adjusted to years, we can now apply the formula with P=1200 and r=0.06.

I=Prt=1200(0.06)(13)=24

Answer 2

Algorithm:

Algorithm is a stepwise “set of rules” to be followed in ‘calculations’ used by  computer especially. It is a ‘step by step’ process and simple way to find output of the program. We can easily understand the whole program by this algorithm.

Algorithm to find simple interest:

1. Start the program.

2. Read Principal amount, rate of interest and time period.

3. Calculate interest by using the formula.

   

4. Print the simple interest.

5. Stop the program.

The flowchart for simple interest is attached below.

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