Simple Interest
Simple interest is the simple and easiest way to calculate interest charge on a loan. This type of interest usually applies to short-term loans.There are three values involved in simple interest, Principal, Rate and Time.
Here we have the formula to calculate Simple Interest.
Simple Interest formula = (Principle * Time * Rate)/100
Simple Interest program using C++
#include<iostream>#include<cmath>
using namespace std;
class InterestRate
{
protected:
float interest,rate,principal,time;
int n;
public:
InterestRate(float p,float r, float t,float no=0)
{
principal=p;
rate=r;
time=t;
n=no;
}
virtual void calculateInterest()
{}
};
class SimpleInterest:public InterestRate
{
public:
SimpleInterest(float p,float r, float t):InterestRate(p,r,t)
{}
void calculateInterest()
{
interest = principal*time*rate/100;
cout<<“Simple interest: “<<interest<<endl;
}};
class CompoundInterest:public InterestRate
{
public:
CompoundInterest(float p,float r, float t,int n):InterestRate(p,r,t,n)
{}
void calculateInterest()
{interest = principal*(pow(1+rate/100/n,n*time)-1);
cout<<“Compound interest : “<<interest<<endl;
}};
int main()
{InterestRate *i1;
SimpleInterest s1(2000,5,2);
i1=&s1;
i1->calculateInterest();
CompoundInterest c1(1000,5,2,4);
i1=&c1;
i1->calculateInterest();
return 0;
}
OUTPUT:
Simple interest: 200
Compound interest: 104.486
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tags : c programs , c++ programs, programs of c++ , simple interest , simple interest formula, c programs for beginners.