Question

Write an algorithm to find simple interest and compound interest

Answer 1

The algorithm to calculate the simple interest and compound interest is as follows:

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

// CPP program to find compound interest for

// given values.

#include <bits/stdc++.h>

using namespace std;

 

int main()

{

   double principle = 10000, rate = 10.25, time = 5;

 

   /* Calculate compound interest */

   double CI = principle * (pow((1 + rate / 100), time));

 

   cout << ""Compound interest is "" << CI;

 

   return 0;

}

Answer 2

Answer:

The algorithm to calculate the simple interest and compound interest is as follows:

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. // CPP program to find compound interest for. // given values.

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