# 1. Introduction

Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments. In Python, this concept can be translated into a straightforward program.

Simple Interest (SI) is calculated using the formula: SI = (Principal amount * Rate of Interest * Time) / 100. It's the product of the principal, the rate of interest per period, and the time periods.

# 2. Program Steps

1. Define the principal amount, rate of interest, and time period.

2. Calculate the simple interest using the formula.

3. Print the calculated simple interest.

# 3. Code Program

``````# Function to calculate simple interest
def calculate_simple_interest(principal, rate, time):
# Calculate simple interest using the formula
simple_interest = (principal * rate * time) / 100
return simple_interest

# Principal amount, rate of interest, and time period
principal_amount = 1000
interest_rate = 5
time_period = 3
# Calculate the simple interest
simple_interest = calculate_simple_interest(principal_amount, interest_rate, time_period)
# Print the simple interest
print(f"The simple interest is: {simple_interest}")
``````

### Output:

```The simple interest is: 150.0
```

### Explanation:

1. A function named calculate_simple_interest is defined with parameters principal, rate, and time.

2. The function computes the simple interest using the given formula and returns the result.

3. The variables principal_amount, interest_rate, and time_period are set to 1000, 5, and 3, respectively.

4. calculate_simple_interest is called with these values to calculate the simple interest.

5. The calculated simple interest, 150.0, is printed.

6. The f-string is used in the print statement for clear and formatted output.