Question

Bank charges interest for the vehicle loan as given below: 

Number of years	Rate of interest
Up to 5 years	15%
More than 5 and up to 10 years	12%
Above 10 years	10%

Write a program to model a class with the specifications given below:

Class name : Loan
Data members/Instance variables
int time: Time for which loan is sanctioned
double principal: Amount sanctioned
double rate: Rate of interest
double interest: To store the interest
double amt: Amount to pay after given time
Member Methods:
void getdata(): to accept principal and time.
void calculate(): to find interest and amount.
Interest = (Principal*Rate*Time)/100
Amount = Principal + Interest
void display(): to display interest and amount. 

Answer 1

import java.util.*;
class Loan{
int time;
double principal rate, interest, amt;

void getdata()
{Scanner sn = new Scanner(System.in);
System.out.println("Enter the principal:");
principal = sn.nextDouble();

System.out.println("Enter the time:");
time = sn.nextInt();
}

void calculate()
{if (time <= 5)
rate = 15;
else if (time > 5 && time <= 10)
rate = 12;
else if (time > 10)
rate = 10;
interest = (principal * rate * time) / 100;
amt = principal + interest;
}

void display()
{System.out.println("\nInterest: " + interest);
System.out.println(" Amount: " + amt);
}

public static void main(String args[])
{Loan obj = new Loan();
obj.getdata();
obj.calculate();
obj.display();
}}