Monday, May 8, 2017

Flowchart of Simple Interest

Simple Interest Calculation of Savings Bank Accounts / Loan Accounts


Following flowchart describes the process of simple interest calculation. 

Simple Interest calculation is one of the routine activity performed by Banks. Savings Bank account holder gets interests on their deposits in bank. Loan takers from the bank pay the interest to the bank. 

In the following flowchart, P is Principle amount, R is Rate of Interest, N is number of years and I is used for Simple Interest. 

Formula to calculate Simple Interest (I) based on given P, R and N is as under:

I  = (P * R * N) / 100

  
Simple Interest - flowchart


Fig. Flowchart to Calculate Simple Interest

Here, P = Principal amount, R = Rate of Interest, N = No. of years and I = Simple Interest.


3 comments:

  1. have a look at my code:Program to calculate the simple interest:
    https://chetnet.blogspot.in/2017/08/c-programs.html

    ReplyDelete
  2. Give flow chart for compound interest

    ReplyDelete
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