How to Calculate Simple Interest with Example in PHP

How to calculate simple interest with example in PHP.

In this article, you will learn how to calculate simple interest with examples in PHP.

Example

Simple Interest Formula

Source Code

<?php
// How to Calculate Simple Interest with Example in PHP

$p = 5;
$t = 7;
$r = 9;
$SI = NULL;
// $p=principal, $t=time, $r=rate, $SI=simple interest

// It will calculate the simple interest
$SI = ($p * $t * $r) / 100;

// It will print the final output
echo "Simple Interest = " . $SI;

?>

Run

Output

Explanation

In this given program we have taken input variables named with their values $p = 5, $t = 7, and $r = 9. After that, we applied the standard formula to calculate the simple interest.

Then It will return the 3.15 simple interest of the above program.