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. Here, P = Principal amount, R = Rate of Interest, N = No. of years and I = Simple Interest
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Answer:
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. Here, P = Principal amount, R = Rate of Interest, N = No. of years and I = Simple Interest
Answer:
Algorithm to find simple interest:
Start the program.
Read Principal amount, rate of interest and time period.
Calculate interest by using the formula.
Print the simple interest.
Stop the program.
Explanation: