A basic simple interest calculator in Python with details in README.md
This repository contains a basic simple interest calculator implemented in Python. Simple interest is a quick method to calculate the interest charge on a loan or investment. It is calculated on the original principal only, without compounding.
The formula for simple interest is:
- Principal (P): The initial amount of money.
- Rate (R): The annual interest rate (expressed as a decimal, e.g., 5% = 0.05).
- Time (T): The time period for which the money is borrowed or invested (in years).
The total amount after interest is: Total = Principal + Interest.
- Clone the repository to your local machine
- Navigate to the project directory
- Run the Python script
- Enter the prompted values for Principal, Rate, and Time.
- The script will output the calculated Simple Interest and Total Amount.
- Principal: 1000
- Rate: 0.05 (5%)
- Time: 3 years
Interest = 1000 × 0.05 × 3 = 150
Total Amount = 1000 + 150 = 1150
- Python 3.x (no additional libraries needed).
This project is licensed under the MIT License - see the LICENSE file for details.
Feel free to fork this repo and submit pull requests for improvements!
Run the program: python main.py