Write A Program To Calculate Simple Interest And Compound Interest

Introduction & Importance

Calculating simple and compound interest is crucial in finance, investments, and loans. Our calculator simplifies these calculations, helping you make informed decisions.

How to Use This Calculator

1. Enter the principal amount (P).
2. Enter the annual interest rate (R) in percentage.
3. Enter the time (T) in years.
4. For compound interest, enter the number of times interest is compounded per year (n). Leave blank for simple interest.
5. Click ‘Calculate’.

Formula & Methodology

Simple Interest (SI) = P * R * T / 100

Compound Interest (CI) = P * (1 + R / (n * 100))^(n * T) – P