Write A program to calculate thr compound Interest in c language

 

#include <stdio.h>

#include <conio.h>

#include <math.h>

 Void main() 

{

    float principal, rate, time, compoundInterest;

  clrscr();

  printf("Enter principal amount: ");

    scanf("%f", &principal);

    printf("Enter rate of interest: ");

    scanf("%f", &rate);

    printf("Enter time period (in years): ");

    scanf("%f", &time);

    // Calculate compound interest

    compoundInterest = principal * pow(1 + (rate / 100), time) - principal;

    printf("Compound Interest = %.2lf\n", compoundInterest);

getch();

    }

Output:--

Enter principal amount: 1000

Enter rate of interest: 2

Enter time period (in years): 3

Compound Interest = 61.21

This C program calculates compound interest using the following formula:

Compound Interest = Principal * (1 + (Rate / 100))^Time - Principal

Here's a breakdown of the code:

1. Include necessary headers:

   • stdio.h for input/output operations.
   • math.h for the pow function to calculate the power.

2. Declare variables:

   • principal: Stores the principal amount.
   • rate: Stores the rate of interest.
   • time: Stores the time period in years.
   • compoundInterest: Stores the calculated compound interest.

3. Get user input:

   • Prompt the user to enter the principal amount, rate of interest, and time period.
   • Use scanf to read the values from the user.

4. Calculate compound interest:

   • Use the formula compoundInterest = principal * pow(1 + (rate / 100), time) - principal to calculate the compound interest.
   • The pow function is used to calculate the power of the expression (1 + (rate / 100)).

5. Print the result:

   • Print the calculated compound interest using printf.

6. Return 0:

   • Indicate successful program execution.