EMI Calculator (C program to calculate EMI).

EMI Calculator: This program will read total loan amount (principal), rate and time in years and prints the per month EMI of that loan amount.

The formula used in this program is:
(P*R*(1+R)T)/(((1+R)T)-1)

Here,

  • P is loan amount.
  • R is interest rate per month - we will read in yearly and convert in monthly in program.
  • T is loan time period in year - we will read in yearly and convert in monthly in program.

EMI Calculator program in C

/*EMI Calculator (C program to calculate EMI).*/

#include <stdio.h>
#include <math.h>

int main() 
{
	float principal, rate, time, emi;

	printf("Enter principal: ");
	scanf("%f",&principal);

	printf("Enter rate: ");
	scanf("%f",&rate);

	printf("Enter time in year: ");
	scanf("%f",&time);

	rate=rate/(12*100);	/*one month interest*/
	time=time*12; /*one month period*/


	emi= (principal*rate*pow(1+rate,time))/(pow(1+rate,time)-1);

	printf("Monthly EMI is= %f\n",emi);
    
    return 0;
}
    

    Enter principal: 20000
    Enter rate: 10
    Enter time in year: 2
    Monthly EMI is= 922.899536