Question

Write algorithm and flowchart for simple, compound interest?

Answer 1

The algorithm to calculate the simple interest and compound interest is as follows:

Step 1:Start

Step 2: Read Principal Amount, Rate and Time

Step 3: Calculate Interest using formula SI= ((amount*rate*time)/100)

Step 4: Print Simple Interest

Step 5: Stop

// CPP program to find compound interest for

// given values.

#include <bits/stdc++.h>

using namespace std;

int main()

{

double principle = 10000, rate = 10.25, time = 5;

/* Calculate compound interest */

double CI = principle * (pow((1 + rate / 100), time));

cout << ""Compound interest is "" << CI;

return 0;

}