Python Program for Simple Interest

Simple Interest is calculated using the principal amount, time period, and rate of interest. In Python, a function can be used to calculate Simple Interest and return the result.

• Example: if P = 1000, T = 2 years, and R = 5%, the Simple Interest is 100.0.
• Simple interest formula : (P x T x R)/100

Using function

A function can be defined to calculate Simple Interest using the given principal, time, and rate values.

def simple_interest(p, t, r):
    return (p * t * r) / 100

p = 1000
t = 2
r = 5
result = simple_interest(p, t, r)
print(result)

100.0

Explanation:

• simple_interest() defines a function to calculate Simple Interest.
• p, t, and r represent principal, time, and rate.
• (p * t * r) / 100 applies the Simple Interest formula.
• return sends the calculated interest back to the function call.
• simple_interest(p, t, r) calls the function with the given values.

Using Function with User Input

def simple_interest(p, t, r):
    return (p * t * r) / 100

p = float(input("Enter principal: "))
t = float(input("Enter time: "))
r = float(input("Enter rate: "))

result = simple_interest(p, t, r)
print("Simple Interest:", result)

Output:

Explanation:

• input() takes the principal, time, and rate from the user.
• float() converts the input values into numbers.
• simple_interest() calculates the interest using the formula.
• result stores the calculated Simple Interest.

Using lambda function

A lambda function can perform the Simple Interest calculation in a single expression.

si = lambda p, t, r: (p * t * r) / 100

p, t, r = 8, 6, 8

res = si(p, t, r)
print(res)

3.84

Explanation:

• lambda p, t, r creates an anonymous function with three parameters.
• si stores the lambda function.
• si(p, t, r) calls the lambda function with the given values.
• result stores the returned value.

Using list comprehension

List comprehension can also be used to perform the calculation and extract the result from a single-element list.

p, t, r = 8, 6, 8

si = [p * t * r / 100][0]
print(si)

3.84

Explanation :

• [p * t * r / 100] creates a list containing the calculated value.
• [0] accesses the first element of the list.
• si stores the resulting value.

Note: List comprehension is generally used for creating lists from iterable data. It is not necessary for calculating a single value, but it can be used to demonstrate another Python approach.