write a program find rate of interest and simple interest s.i = 1 000 p = 2500 and rs = 5 percent
Answers
Answer: Simple interest:-
Interest: The amount of money that you pay to borrow money or the amount of money that you earn on a deposit
Annual Interest Rate: The percent of interest that you pay for money borrowed, or earn for money deposited
General Information
S.I = PRT/100
1. Principle: The money borrowed or lent out for a certain period is called the principal or the sum (P).
2. Interest: The borrower pays a certain amount for the use of this money is called interest (S.I).
3. Time: The borrowing is for a specified period called Time (T).
4. Rate of interest: The specified term is expressed as percent of the principal is called rate of interest (R %).
5. Amount: The sum of the principal and the interest is called the amount or Future value.
Amount=principal+interest=P+PRT/100=P(1+RT/100)
Compound interest:-
When interest charged over a period of time is added up in the principal, the interest so charged on this new principal is called compound interest.
If P = sum or Principal
n = time in years
R = rate percent per annum
Then, amount = P(1+R/100)^n
(i) When interest is compounded half-yearly,
Amount = P(1+(R/2)/100)^2n
(ii) When interest is compounded quarterly,
Amount = P(1+(R/4)/100)^4n
(iii) When interest is compounded annually but time in fraction, say 21/5 years.
Amount = P〖(1+R/100)^2×(1+(R 1/5)/100)〗^1
(iv) When rates are different for different years, say R1%, R2%, and R3% for 1st, 2nd and 3rd year respectively then,
Amount = P(1+R1/100)(1+R2/100)(1+R3/100)
(v) Present worth of Rs. X due n years hence is given by:
Present worth = x/(1+R/100)^n
Explanation:
Answer:
Program to find simple interest
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 principle amount
T is the time and
R is the rate
Explanation:
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