Write a procedure to calculate simple interest, taking principal, rate, and year as inputs.
Understand the Problem
The question is asking for assistance in writing a procedure to calculate simple interest using given inputs such as principal, rate, and time. This requires understanding financial formulas and programming logic to implement it.
Answer
Use the formula: Simple Interest = (Principal * Rate * Years) / 100.
CREATE OR REPLACE PROCEDURE calculate_simple_interest(principal IN NUMBER, rate IN NUMBER, years IN NUMBER, interest OUT NUMBER) AS BEGIN interest := (principal * rate * years) / 100; END;
Answer for screen readers
CREATE OR REPLACE PROCEDURE calculate_simple_interest(principal IN NUMBER, rate IN NUMBER, years IN NUMBER, interest OUT NUMBER) AS BEGIN interest := (principal * rate * years) / 100; END;
More Information
The procedure calculates simple interest using a structured approach that clearly defines and computes the necessary variables.
Tips
Ensure rate and time are correctly expressed in equivalent units for accurate results.
Sources
- Program to find simple interest - GeeksforGeeks - geeksforgeeks.org
- Simple Interest Calculator I = Prt - calculatorsoup.com
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