4 March, 07:46

# Write a program to read customer number, Name, loan amount, interest rate and time of repayment. Calculate and display the EMI. To calculate EMI, calculate interest amount using formula: Interest amount = loan amount (1 + rate/100) time. Then add Interest amount to loan amount and divide by time (in months).

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1. 4 March, 09:54
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The programming language is not stated; however, I'll answer this question using Python programming language.

This program doesn't make use of comments (See Explanation Section for detailed explanation)

The program is as follows

name = input ("Customer Name: ")

number = input ("Customer Number: ")

loan = float (input ("Loan Amount: "))

rate = float (input ("Interest Rate: "))

time = int (input ("Repayment Time [in months] : "))

Interest = loan * (1 + rate/100) * * time

EMI = (Interest + loan) / time

print ("EMI: ", end='')

print (round (EMI, 2))

Explanation:

This line prompts for customers' name

name = input ("Customer Name: ")

This line prompts for customers'number

number = input ("Customer Number: ")

This line prompts for loan amount

loan = float (input ("Loan Amount: "))

The line prompts for the interest rate

rate = float (input ("Interest Rate: "))

This line prompts for time of loan repayment

time = int (input ("Repayment Time [in months] : "))

Using the given formula, this line calculates the interest amount

Interest = loan * (1 + rate/100) * * time

The EMI is calculated using this line

EMI = (Interest + loan) / time

This line prints the string "EMI: " without the quotes

print ("EMI: ", end='')

The last line of the program prints the calculated value of EMI, rounding it up to 2 decimal places

print (round (EMI, 2))