Simple Interest is the extra amount which has to be given by the person who bears/takes the loan from banks or others at the fixed rate.
Formula of Simple Interest =(P*R*T)/100
Where P=Principle amount of loan
R=Rate at which interest has to be paid
T=Time under which loan has to be paid.
Java Code for calculating Simple Interest
public class SI
public static void main(String args)
Scanner s=new Scanner(System.in);
System.out.print(“Enter principle amount :”);
System.out.print(“Enter rate of interest :”);
System.out.print(“Enter time period :”);
System.out.println(“Interest = “+interest);