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.