{"id":16524,"date":"2021-08-12T09:33:34","date_gmt":"2021-08-12T04:03:34","guid":{"rendered":"https:\/\/python-programs.com\/?p=16524"},"modified":"2021-11-22T18:38:29","modified_gmt":"2021-11-22T13:08:29","slug":"python-program-to-calculate-emi","status":"publish","type":"post","link":"https:\/\/python-programs.com\/python-program-to-calculate-emi\/","title":{"rendered":"Python Program to Calculate EMI"},"content":{"rendered":"<p>In the previous article, we have discussed <a href=\"https:\/\/python-programs.com\/python-program-to-check-if-a-string-is-lapindrome-or-not\/\">Python Program to Check if a String is Lapindrome or Not<\/a><br \/>\n<strong>Estimated Monthly Installment (EMI):<\/strong><\/p>\n<p>EMI is an abbreviation for Estimated Monthly Installment. It is a set amount of money paid by the customer or borrower to the bank or lender on a set date each month of the year. This amount is deducted from the customer&#8217;s or borrower&#8217;s account every month for a set number of years until the loan is fully paid off by the customer or borrower to the bank or lender.<\/p>\n<p><strong>Formula :<\/strong><\/p>\n<p><strong>EMI = (P*R*(1+R)<sup>T<\/sup>)\/((1+R)<sup>T<\/sup>-1)<\/strong><\/p>\n<p>where P = Principle<\/p>\n<p>T = Time<\/p>\n<p>R = Rate of interest.<\/p>\n<p>Given principle, Rate, Time, and the task are to calculate EMI for the given input values in Python<\/p>\n<p><strong>Examples:<\/strong><\/p>\n<p><strong>Example1:<\/strong><\/p>\n<p><strong>Input:<\/strong><\/p>\n<pre>Given Principle = 10000\r\nGiven Rate = 8\r\nGiven Time = 2<\/pre>\n<p><strong>Output:<\/strong><\/p>\n<pre id=\"codeOutputPre\">The EMI for the above given values of P,T,R =  452.2729145618459<\/pre>\n<p><strong>Example 2:<\/strong><\/p>\n<p><strong>Input:<\/strong><\/p>\n<pre>Given Principle = 20000\r\nGiven Rate = 15\r\nGiven Time = 3<\/pre>\n<p><strong>Output:<\/strong><\/p>\n<pre id=\"codeOutputPre\">The EMI for the above given values of P,T,R =  693.3065700838845<\/pre>\n<h2>Program to Calculate EMI<\/h2>\n<p>Below are the ways to Calculate BMI for given values of principle, Rate, Time.<\/p>\n<ul>\n<li><a href=\"#Using_Mathematical_Formula_(Static_Input)\">Using Mathematical Formula (Static Input)<\/a><\/li>\n<li><a href=\"#Using_Mathematical_Formula_(User_Input)\">Using Mathematical Formula (User Input)<\/a><\/li>\n<\/ul>\n<h3 id=\"Using_Mathematical_Formula_(Static_Input)\">Method #1: Using Mathematical Formula (Static input)<\/h3>\n<p><strong>Approach:<\/strong><\/p>\n<ul>\n<li>Give the Principle as static input and store it in a variable.<\/li>\n<li>Give the Rate as static input and store it in another variable.<\/li>\n<li>Give the Time as static input and store it in another variable.<\/li>\n<li>Calculate the given rate using the given rate formula( given rate\/(12*100))and store it in the same variable.<\/li>\n<li>Calculate the given time using the given time formula (given time *12) and store it in the same variable.<\/li>\n<li>Calculate the EMI Value using the above given mathematical formula and store it in another variable.<\/li>\n<li>Print the given EMI value for the above-given values of Principle, Rate, Time.<\/li>\n<li>The Exit of the program.<\/li>\n<\/ul>\n<p><strong>Below is the implementation:<\/strong><\/p>\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\"># Give the Principle as static input and store it in a variable.\r\ngvn_princpl = 10000\r\n# Give the Rate as static input and store it in another variable.\r\ngvn_rate = 8\r\n# Give the Time as static input and store it in another variable.\r\ngvn_time = 2\r\n# Calculate the given rate using given rate formula( given rate\/(12*100))and\r\n# store it in a same variable.\r\ngvn_rate = gvn_rate\/(12*100)\r\n# Calculate the given time using given time formula (given time *12) and\r\n# store it in a same variable.\r\ngvn_time = gvn_time*12\r\n# Calculate the EMI Value using the above given mathematical formula and\r\n# store it in another variable.\r\nfnl_Emi = (gvn_princpl*gvn_rate*pow(1+gvn_rate, gvn_time)) \/ \\\r\n    (pow(1+gvn_rate, gvn_time)-1)\r\n# Print the given EMI value for the above given values of Principle,Rate,Time.\r\nprint(\"The EMI for the above given values of P,T,R = \", fnl_Emi)\r\n<\/pre>\n<p><strong>Output:<\/strong><\/p>\n<pre id=\"codeOutputPre\">The EMI for the above given values of P,T,R =  452.2729145618459<\/pre>\n<h3 id=\"Using_Mathematical_Formula_(User_Input)\">Method #2: Using Mathematical Formula (User input)<\/h3>\n<p><strong>Approach:<\/strong><\/p>\n<ul>\n<li>Give the Principle as user input using the float(input()) and store it in a variable.<\/li>\n<li>Give the Rate as user input using the float(input()) and store it in another variable.<\/li>\n<li>Give the Time as user input using the float(input()) and store it in another variable.<\/li>\n<li>Calculate the given rate using the given rate formula( given rate\/(12*100))and store it in the same variable.<\/li>\n<li>Calculate the given time using the given time formula (given time *12) and store it in the same variable.<\/li>\n<li>Calculate the EMI Value using the above given mathematical formula and store it in another variable.<\/li>\n<li>Print the given EMI value for the above-given values of Principle, Rate, Time.<\/li>\n<li>The Exit of the program.<\/li>\n<\/ul>\n<p><strong>Below is the implementation:<\/strong><\/p>\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\"># Give the Principle as user input using float(input()) and store it in a variable.\r\ngvn_princpl = float(input(\"Enter some random number = \"))\r\n# Give the Rate as user input using float(input()) and store it in another variable.\r\ngvn_rate = float(input(\"Enter some random number = \"))\r\n# Give the Time as user input using float(input()) and store it in another variable.\r\ngvn_time = float(input(\"Enter some random number = \"))\r\n# Calculate the given rate using given rate formula( given rate\/(12*100))and\r\n# store it in a same variable.\r\ngvn_rate = gvn_rate\/(12*100)\r\n# Calculate the given time using given time formula (given time *12) and\r\n# store it in a same variable.\r\ngvn_time = gvn_time*12\r\n# Calculate the EMI Value using the above given mathematical formula and\r\n# store it in another variable.\r\nfnl_Emi = (gvn_princpl*gvn_rate*pow(1+gvn_rate, gvn_time)) \/ \\\r\n    (pow(1+gvn_rate, gvn_time)-1)\r\n# Print the given EMI value for the above given values of Principle,Rate,Time.\r\nprint(\"The EMI for the above given values of P,T,R = \", fnl_Emi)\r\n<\/pre>\n<p><strong>Output:<\/strong><\/p>\n<pre>Enter some random number = 20000\r\nEnter some random number = 15\r\nEnter some random number = 2.5\r\nThe EMI for the above given values of P,T,R = 803.5708686652767<\/pre>\n<p>Explore more instances related to python 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Pentagon<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>In the previous article, we have discussed Python Program to Check if a String is Lapindrome or Not Estimated Monthly Installment (EMI): EMI is an abbreviation for Estimated Monthly Installment. It is a set amount of money paid by the customer or borrower to the bank or lender on a set date each month of &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/python-programs.com\/python-program-to-calculate-emi\/\"> <span class=\"screen-reader-text\">Python Program to Calculate EMI<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":7,"featured_media":16795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Python Program to Calculate EMI - Python Programs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/python-programs.com\/python-program-to-calculate-emi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Python Program to Calculate EMI - Python Programs\" \/>\n<meta property=\"og:description\" content=\"In the previous article, we have discussed Python Program to Check if a String is Lapindrome or Not Estimated Monthly Installment (EMI): EMI is an abbreviation for Estimated Monthly Installment. 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