subject: Variable Interest Calculator [print this page] Introduction to variable interest calculator:
The interest is calculated upon the value of the money borrowed and years and then rate of interest. The variables required to calculate the interest are principle, rate of interest and the number of years. In this variable interest calculator three variables are given as input and interest is calculated using simple interest formula. Interest is also called as rent of money.
Variable Interest Calculator
Variable interest calculator is to calculate the interest.
Here the sample of calculator is shown.
calculator
The first input variable to be given is principle amount. It is the money for which we have to calculate the interest.
The second input variable to de given is the rate of interest. It is the percentage of the interest as a whole.
The third input variable to be given is the number of years. The money is deposited or borrowed for a particular period of time. That period is called as number of years.
The last is the output text. Where the interest is calculated and produce as output in the last text.
Procedure Followed in Calculator
In the calculator the procedure followed is
In the first three texts we have to give the principle, rate of interest and the number of years.
After clicking the interest button, it shows the interest amount calculated.
Not only the interest, can also got any one of the above field by click on the respective buttons provided at the left side.
Consider the following examples
Formula use to find interest
'Interest = (PxxNxxR)/100'
Where,
The variables are
S.I is the simple interest
P is the principle; amount borrowed or deposited money in bank
N is the number of years
R is the rate of interest
Let us assume the input given as
P=$3000
N=4
R=9%
'Interest = (3000xx4xx9)/100'
= $1080
After click on the interest button on left the result produced as 1080.
In case we want to find the principle amount
The input given as
N=4
R=9
Interest=$1080
'P=(1080xx100)/(4xx9)'
=$3000
After click on the principle button on the left the result produced as 3000 in the right text.
As this we can also calculate the rate of interest and number of years.
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