# Python Program for Simple Interest Calculator

In this tutorial, we will discuss a Python program for Simple Interest Calculator.

Before going to the program first, let us understand what is *Simple Interest.*

**Simple Interest:**

- Simple interest is calculated using the formula: $Simple Interest=100P×R×T $, where $P$ is the principal amount, $R$ is the rate of interest, and $T$ is the time period.

**Related: **Python Program for an Area Calculator

#### Program code for simple interest using Python

# Simple Interest Calculator in Python def calculate_simple_interest(principal, rate, time): return (principal * rate * time) / 100 principal = float(input("Enter the principal amount: ")) rate = float(input("Enter the rate of interest: ")) time = float(input("Enter the time period in years: ")) simple_interest = calculate_simple_interest(principal, rate, time) print(f"The simple interest is {simple_interest}.")

#### Explanation

**Function Definition**: The`calculate_simple_interest`

function takes three parameters:`principal`

,`rate`

, and`time`

, and returns the calculated simple interest.**Main Program**: The program prompts the user to enter the principal amount, rate of interest, and time period. It then calculates the simple interest using the`calculate_simple_interest`

function and prints the result.

#### Output

- When you run the above program, it will prompt you to enter the principal amount, rate of interest, and time period.
- After entering the values, it will calculate the simple interest and print the result.

#### Conclusion

- In this tutorial, we learned how to create a simple interest calculator using a Python program.
- Understanding this concept is essential for solving various financial problems and enhancing your programming skills.