Golang How to calculate simple interest in Golang

It is a short tutorial about how to calculate simple interest using golang

what is Simple Interest with formula

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

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

    Simple Interest=P x N x R/100

• P is the principal amount
• N is the Number of months
• R is the interest rate

In a program code,

• Take 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 the period: 1
Simple Interest  Amount: 2400
Total  Amount: 12400

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

Calculate the simple interest and returns total amount.

Conclusion

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