Golang How to calculate simple interest in Golang


This is an short tutorial about how to calculate simple interest using golang

what is Simple Interest with formula

Simple interest is a an interest applied to principal amount applied with rate of interest in period for period of time.

Normally, To calculate simple interest in mathematical terms, We have used the formula.

    Simple Interest=P x N x R/100
  • P is principal amount
  • N is Number of months
  • R is interest rate

In a program code,

  • Take an input of principal amount, interest and Period
  • Store all this in a variables
  • Calculate using the above formula
  • Finally print the result

Here is the golang program code to calculate simple interest

package main

import (
	"fmt"
)

func main() {
    var principal, interest, period, total float64;
    fmt.Print("Please enter principal amount: ")
    fmt.Scanln(&principal)
    fmt.Print("Please enter Interest Rate: ")
    fmt.Scanln(&interest)

    fmt.Print("Please enter period: ")
    fmt.Scanln(&period)

    total= (principal* interest* period) / 100

    fmt.Println("\nSimple Interest  Amount: ", total)
    fmt.Println("\n Total  Amount: ", amount+total)


}

Output:

Please enter principal amount: 10000
Please enter Interest Rate: 24
Please enter period: 1
Simple Interest  Amount: 2400
Total  Amount: 12400

This program takes input - principal, rate of interest and period in years and stored these values in a variable.

Calculate the simple interest and returns total amount.

Conclusion

In this example, You learned calculate simple interest principal amount in Go language.

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