Write a Program that computes the simple interest and compound interest payable on principal amount (in Rs.) of loan borrowed by the customer from a bank for a given period of time (in years) at specific rate of interest. Further determine whether the bank will benefit by charging simple interest or compound interest.

AIM:  Write a C++ program that computes the simple intrest and compound intrest payable on principal amount of loan borrowed by the customer from bank for a given period of time at specific rate of intrest. Further determine the bank will benefit by charging simple intrest or compound intrest.

#include <math.h>
#include <iostream>
using namespace std;
int main()
{
   int P,R,T;
   double SI,CI;
   cout<<“Enter the principal, time period & interest rate:\n”;
   cin>>P>>R>>T;
   SI=(P*R*T)/100;
   CI=P*(pow(1+(double)R/100,T))-P;
   cout<<“The S I is”<<SI<<endl;
   cout<<“The C I is”<<CI<<endl;
   if(SI<CI)
   {
      cout<<“Bank is Benefited by COMPOUND INTREST”;
   }
   else
   {
      cout<<“Bank is Benefited by SIMPLE INTEREST”;
   }
   return 0;
}

OUTPUT:

Enter the principal, time period & interest rate:
1000
12
2

The S I is 240
The C I is 254.4

Bank is Benefited by COMPOUND INTEREST

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