C program to calculate compound interest - My CS Tutorial

In this tutorial we will learn how to write a program that find(calculate) and print the compound interest.

C program code

#include<stdio.h>

#include<conio.h>

#include<math.h>

void main()

{

//CI=P((1+r/n)^(nt))

float compoundInterest,principal,rate,time;

int n;

  printf("\n Enter Principal\n ");

  scanf("%f",&principal);

  printf("\n Enter rate in percentage\n ");

  scanf("%f",&rate);

  printf("\n Enter time in years(demcimals)\n ");

  scanf("%f",&time);

  printf("\n Enter number of times interest is compounded per year\n ");

  scanf("%d",&n);

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

printf("\n Compound Interest is %f\n",compoundInterest);

getch();

}

OUTPUT 1:

OUTPUT 2:

Explanation:

Formula for CI:

CI=Principal((1+rate/n)^(n*time))

1. We used
   • principal → To store principal in Rupees
   • rate → To store rate in %
   • time → To store time in years
   • n →To store number of times interest is compounded per year
   • compoundInterest → To store output

2. printf("Enter Principal\n");
     scanf("%f",&principal);
     printf("Enter rate in percentage\n");
     scanf("%f",&rate);
     printf("Enter time in years(demcimals)\n");
     scanf("%f",&time);
     printf("Enter number of times interest is compounded per year\n");
     scanf("%d",&n);

   Taking all the required variables as input from user 

3. compoundInterest=(float)(principal*(pow((1+(rate/(100*n))),(n*time))));
   printf("Compound Interest is %f\n",compoundInterest);

   compoundInterest is calculated by using formula and is then printed.

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Created by-- HARSH CHAUHAN