In this post, you will see how to write the **java program to calculate the Simple Interest**. Simple interest (SI) is based on the principal amount of a loan or the first deposit in a savings account. Simple interest doesn’t compound, which means a creditor will only pay interest on the principal amount and a borrower would never have to pay more interest on the previously accumulated interest.

Formula to calculate simple interest (SI),

Simple interest (SI) = ( P x T x R ) / 100

Here,**P** is the principal amount **T** is the time and **R** is the rate

**Example: **

P= 1000, T= 5, R= 10

SI = (1000 x 5 x 10) / 100 => 50000 / 100 => 500.

Below is the java program logic to find simple interests,

```
package com.javacodepoint.basics;
import java.util.Scanner;
public class SimpleInterest {
// main method
public static void main(String[] args) {
// Declare the required variables
float principal, rate, time, si;
// Scanner object to read inputs from user
Scanner sc = new Scanner(System.in);
// Reading inputs from user
System.out.print("Enter the principal amount:: ");
principal = sc.nextFloat();
System.out.print("Enter the rate of interest:: ");
rate = sc.nextFloat();
System.out.print("Enter the time (in years):: ");
time = sc.nextFloat();
// Calculate the simple interest
si = (principal * rate * time) / 100;
// Print the result
System.out.println("The simple interest:: " + si);
System.out.println("Total amount to Pay (with interest):: " + (principal + si));
}
}
```

**OUTPUT:**

Enter the principal amount:: 50000

Enter the rate of interest:: 8

Enter the time (in years):: 5

The simple interest:: 20000.0

Total amount to Pay (with interest):: 70000.0

See also: **Java Program to Calculate Compound Interest**.