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Mr. Agarwal invests certain sum at 5% per annum compound interest for three years. Write a program in Java to calculate:

(a) the interest for the first year
(b) the interest for the second year
(c) the amount after three years.

Take sum as an input from the user.
Sample Input: Principal = ₹5000, Rate =10%, Time = 3 yrs
Sample Output: Interest for the first year: ₹500
Interest for the second year: ₹550
Interest for the third year: ₹605

Java

Input in Java

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Answer

import java.util.Scanner;

public class KboatCompoundInterest
{
    public static void main(String args[]) {
        Scanner in = new Scanner(System.in);
        System.out.print("Enter sum of money: ");
        double p = in.nextDouble();
        double interest = p * 5 * 1 / 100.0;
        System.out.println("Interest for the first year = " + interest);
        p += interest;
        interest = p * 5 * 1 / 100.0;
        System.out.println("Interest for the second year = " + interest);
        p += interest;
        interest = p * 5 * 1 / 100.0;
        System.out.println("Interest for the third year = " + interest);
    }
}

Variable Description Table

Program Explanation

Output

BlueJ output of Mr. Agarwal invests certain sum at 5% per annum compound interest for three years. Write a program in Java to calculate: (a) the interest for the first year (b) the interest for the second year (c) the amount after three years. Take sum as an input from the user. Sample Input: Principal = ₹5000, Rate =10%, Time = 3 yrs Sample Output: Interest for the first year: ₹500 Interest for the second year: ₹550 Interest for the third year: ₹605

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