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Python program for compound interest

Find compound interest program in Python: Here, we are going to learn how to find the compound interest in Python when principle amount, rate of interest and time is given? Submitted by IncludeHelp, on May 26, 2019

Compound interest is the sum of the principal and interest earned i.e., compound interest is the sum of interest and principal of a loan or deposit, or in other words, interest on principal plus interest.

Problem statement

Given principle amount, rate and time and we have to find the compound interest in Python.

Calculate compound interest

To calculate compound interest, we use the following formula,

P(1 + R / 100)T

Where,

• P – Principle amount
• R – Rate of the interest, and
• T – Time in the years

Example

Consider the below example with sample input and output:

Input:
p = 250000
r = 36
t = 1

# formula
ci =  p * (pow((1 + r / 100), t))
print(ci)

Output:
339999.99999999994

Python program to find compound interest

# Python program to find compound interest 

p = float(input("Enter the principle amount : "))
r = float(input("Enter the rate of interest : "))
t = float(input("Enter the time in the years: "))

# calculating compound interest
ci =  p * (pow((1 + r / 100), t)) 

# printing the values
print("Principle amount  : ", p)
print("Interest rate     : ", r)
print("Time in years     : ", t)
print("compound Interest : ", ci)

Output

First run:
Enter the principle amount : 10000
Enter the rate of interest : 3.5
Enter the time in the years: 1
Principle amount  :  10000.0
Interest rate     :  3.5
Time in years     :  1.0
compound Interest :  10350.0

Second run:
Enter the principle amount : 250000
Enter the rate of interest : 36
Enter the time in the years: 1
Principle amount  :  250000.0
Interest rate     :  36.0
Time in years     :  1.0
compound Interest :  339999.99999999994

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