Chapter 1, Problem 6PP

Write a program for calculating the simple interest on a loan when the initial principal amount (princi_amnt) is $\text{\$1000,}$ the initial interest rate (int_rate) is $5.0\%,$ and the number of years (no_of_yrs) is 5. Use suitable data types to declare these variables. Simple interest is calculated using the following equation:

$\text{Simple interset}=\frac{\left(\text{Principal amount}\times \text{Interest rate}\times \text{Number of years}\right)}{100}$