Question

How to calculate simple interest in PHP

Answer 1

function calculateSimpleInterest($principal, $rate, $years) {
    // Validate inputs
    if ($principal < 0 || $rate < 0 || $years < 0) {
        return "Error: Principal, Rate, and Time must be non-negative values.";
    }

    // Calculate Simple Interest
    $simpleInterest = ($principal * $rate * $years) / 100;

    return $simpleInterest;
}

// Main Program
// Input values
$principal = 30000; // principal amount
$rate = 4;          // annual interest rate in percentage
$years = 3;          // time in years

// Calculate and display the result
$result = calculateSimpleInterest($principal, $rate, $years);

if (is_numeric($result)) {
    echo "The Simple Interest for Principal = $principal, Rate = $rate%, and Time = $years years is: $result";
} else {
    echo $result; // Display error message if inputs are invalid
}



/*
run:

The Simple Interest for Principal = 30000, Rate = 4%, and Time = 3 years is: 3600

*/

 

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