# C Exercises: Calculate the simple interest for the loan

## C Basic Declarations and Expressions: Exercise-77 with Solution

Write a C program that accepts principal amount, rate of interest and days for a loan and calculates the simple interest for the loan, using the following formula.

interest = principal * rate * days / 365;

**Sample Input:** 10000

.1

365

0

**Sample Solution:**

**C Code:**

```
#include<stdio.h>
int main()
{
// Declare variables
float principal_amt, rate_of_interest, days, interest;
const int yearInDays = 365; // Constant for converting interest rate
// Prompt user for loan amount
printf( "Input loan amount (0 to quit): " );
scanf( "%f", &principal_amt );
// Main loop for processing loans
while( (int)principal_amt != 0)
{
// Prompt user for interest rate
printf( "Input interest rate: " );
scanf( "%f", &rate_of_interest );
// Prompt user for loan term in days
printf( "Input term of the loan in days: " );
scanf( "%f", &days );
// Calculate interest
interest = (principal_amt * rate_of_interest * days )/ yearInDays;
// Display interest amount
printf( "The interest amount is $%.2f\n", interest );
// Prompt user for next loan principal_amt
printf( "\n\nInput loan principal_amt (0 to quit): " );
scanf( "%f", &principal_amt );
}
return 0;
}
```

Sample Output:

Input loan amount (0 to quit): Input interest rate: Input term of the loan in days: The interest amount is $1000.00 Input loan principal_amt (0 to quit):

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