Program 175:To Calculate Compound Interest

Program 175:
 

#include<stdio.h>
#include<math.h>
main()
{ 
//CI=P((1+r/n)^(nt))
float compoundInterest,principal,rate,time;
int n;
  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);

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

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.

Output: