Simple Interest Calculation – T4Tutorials.com

#include <iostream>
using namespace std;

int main() {
    double principal, rate, time, simpleInterest;
    int choice;

    // Input principal, rate, and time
    cout << "Enter the principal amount: ";
    cin >> principal;
    cout << "Enter the rate of interest: ";
    cin >> rate;
    cout << "Enter the time period in years: ";
    cin >> time;

    // Display calculation options
    cout << "Choose the calculation method:" << endl;
    cout << "1. Calculate Simple Interest" << endl;
    cout << "2. Calculate Total Amount (Principal + Simple Interest)" << endl;
    cout << "Enter your choice (1-2): ";
    cin >> choice;

    // Calculate simple interest using a switch statement
    switch (choice) {
        case 1:
            simpleInterest = (principal * rate * time) / 100;
            cout << "The Simple Interest is: $" << simpleInterest << endl;
            break;
        case 2:
            simpleInterest = (principal * rate * time) / 100;
            cout << "The Total Amount after " << time << " years is: $" << principal + simpleInterest << endl;
            break;
        default:
            cout << "Invalid choice! Please enter 1 or 2." << endl;
            break;
    }

    return 0;
}

#include <iostream>

using namespace std;

int main() {

double principal, rate, time, simpleInterest;

int choice;

// Input principal, rate, and time

cout << "Enter the principal amount: ";

cin >> principal;

cout << "Enter the rate of interest: ";

cin >> rate;

cout << "Enter the time period in years: ";

cin >> time;

// Display calculation options

cout << "Choose the calculation method:" << endl;

cout << "1. Calculate Simple Interest" << endl;

cout << "2. Calculate Total Amount (Principal + Simple Interest)" << endl;

cout << "Enter your choice (1-2): ";

cin >> choice;

// Calculate simple interest using a switch statement

switch (choice) {

case 1:

simpleInterest = (principal * rate * time) / 100;

cout << "The Simple Interest is: $" << simpleInterest << endl;

break;

case 2:

simpleInterest = (principal * rate * time) / 100;

cout << "The Total Amount after " << time << " years is: $" << principal + simpleInterest << endl;

break;

default:

cout << "Invalid choice! Please enter 1 or 2." << endl;

break;

}

return 0;

}

Explanation:

Input:
- The program prompts the user to enter the principal amount, rate of interest, and time period in years.
Switch Statement:
- The switch statement checks the value of choice:
  - case 1: Calculates and displays the simple interest using the formula: $\text{Simple Interest} = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100}$
  - case 2: Calculates the simple interest and then adds it to the principal to display the total amount after the specified time period.
  - default: Handles invalid choices by displaying an error message.
Output:
- Depending on the user’s choice, the program either displays the simple interest or the total amount after the interest is added to the principal.

Example Outputs:

Example 1: Simple Interest Calculation

Input:

Principal: 1000
Rate: 5
Time: 3
Choice: 1

Output:

Enter the principal amount: 1000
Enter the rate of interest: 5
Enter the time period in years: 3
Choose the calculation method:
1. Calculate Simple Interest
2. Calculate Total Amount (Principal + Simple Interest)
Enter your choice (1-2): 1
The Simple Interest is: $150

Enter the principal amount: 1000

Enter the rate of interest: 5

Enter the time period in years: 3

Choose the calculation method:

1. Calculate Simple Interest

2. Calculate Total Amount (Principal + Simple Interest)

Enter your choice (1-2): 1

The Simple Interest is: $150

Example 2: Total Amount Calculation

Input:

Principal: 2000
Rate: 4
Time: 2
Choice: 2

Output:

Enter the principal amount: 2000
Enter the rate of interest: 4
Enter the time period in years: 2
Choose the calculation method:
1. Calculate Simple Interest
2. Calculate Total Amount (Principal + Simple Interest)
Enter your choice (1-2): 2
The Total Amount after 2 years is: $2160

Enter the principal amount: 2000

Enter the rate of interest: 4

Enter the time period in years: 2

Choose the calculation method:

1. Calculate Simple Interest

2. Calculate Total Amount (Principal + Simple Interest)

Enter your choice (1-2): 2

The Total Amount after 2 years is: $2160

Example 3: Invalid Choice

Input:

Principal: 1500
Rate: 6
Time: 1
Choice: 3

Output:

Enter the principal amount: 1500
Enter the rate of interest: 6
Enter the time period in years: 1
Choose the calculation method:
1. Calculate Simple Interest
2. Calculate Total Amount (Principal + Simple Interest)
Enter your choice (1-2): 3
Invalid choice! Please enter 1 or 2.

Enter the principal amount: 1500

Enter the rate of interest: 6

Enter the time period in years: 1

Choose the calculation method:

1. Calculate Simple Interest

2. Calculate Total Amount (Principal + Simple Interest)

Enter your choice (1-2): 3

Invalid choice! Please enter 1 or 2.

Explanation:

Example Outputs:

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