DEPARTMENT OF

COMPUTER SCIENCE & ENGINEERING

Experiment 3

Student Name: Akash Kumar UID: 22BCS14615

Aim: Create an application to calculate interest for FDs, RDs based on certain conditions using inheritance.

Objective: To develop a Java application that calculates interest for Fixed Deposits (FDs)
and Recurring Deposits (RDs) using object-oriented programming principles. The application
will use inheritance to define common properties and methods for accounts while providing
specific implementations for FDs and RDs based on their respective conditions.

Algorithm:
 Create Account class with attributes: accountHolderName, principal, rateOfInterest. Include
methods for calculating interest (to be overridden) and displaying details.
 Create FixedDeposit subclass that calculates FD interest using: principal * rateOfInterest *
tenureInYears / 100. Display FD details.
 Create RecurringDeposit subclass that calculates RD interest using: (monthlyDeposit * months *
(months + 1) / 2) * (rateOfInterest / (12 * 100)). Display RD details.
 In main method, create instances of FixedDeposit and RecurringDeposit and display their details.

Code:
class Account {

String accountHolderName;

double principal;

double rateOfInterest;

public Account(String accountHolderName, double principal, double rateOfInterest) {

this.accountHolderName = accountHolderName;

this.principal = principal;

this.rateOfInterest = rateOfInterest;}

public double calculateInterest() {

return 0;

}
DEPARTMENT OF
COMPUTER SCIENCE & ENGINEERING

public void displayDetails() {

System.out.println("Account Holder: " + accountHolderName);

System.out.println("Principal Amount: " + principal);

System.out.println("Rate of Interest: " + rateOfInterest + "%");

class FixedDeposit extends Account {

int tenureInYears;

public FixedDeposit(String accountHolderName, double principal, double rateOfInterest, int

tenureInYears) {

super(accountHolderName, principal, rateOfInterest);

this.tenureInYears = tenureInYears;

public double calculateInterest() {

return principal * rateOfInterest * tenureInYears / 100;

public void displayDetails() {

super.displayDetails();

System.out.println("Tenure (Years): " + tenureInYears);

System.out.println("Interest Amount: " + calculateInterest());}}

class RecurringDeposit extends Account {

int months;

double monthlyDeposit;

public RecurringDeposit(String accountHolderName, double monthlyDeposit, double rateOfInterest,

int months) {
DEPARTMENT OF
COMPUTER SCIENCE & ENGINEERING

super(accountHolderName, 0, rateOfInterest);

this.monthlyDeposit = monthlyDeposit;

this.months = months;

public double calculateInterest() {

// RD interest formula: P(n(n+1)/2) * (r / 12 * 100)

double n = months;

return (monthlyDeposit * n * (n + 1) / 2) * (rateOfInterest / (12 * 100));

public void displayDetails() {

System.out.println("Account Holder: " + accountHolderName);

System.out.println("Monthly Deposit: " + monthlyDeposit);

System.out.println("Number of Months: " + months);

System.out.println("Rate of Interest: " + rateOfInterest + "%");

System.out.println("Interest Amount: " + calculateInterest());

public class InterestCalculator {

public static void main(String[] args) {

// Example FD account

FixedDeposit fd = new FixedDeposit("Sakshi", 100000, 5.5, 3);

System.out.println("Fixed Deposit Details:");

fd.displayDetails();

System.out.println();
DEPARTMENT OF
COMPUTER SCIENCE & ENGINEERING

RecurringDeposit rd = new RecurringDeposit("Sakshi_22BCS11571", 5000, 6.5, 12);

System.out.println("Recurring Deposit Details:");

rd.displayDetails();

Output:

Learning Outcomes:

 Inheritance: Use of base and derived classes for shared attributes and methods.
 Method Overriding: Custom implementation of methods in subclasses.
 Constructor: Initializing object attributes using constructors.
 Encapsulation: Storing and manipulating data within objects.
 Polymorphism: Different behavior of calculateInterest() based on object type.
 Interest Calculation: Implementing FD and RD interest formulas.
 Class Interaction: Creating objects and calling methods to display details.
DEPARTMENT OF
COMPUTER SCIENCE & ENGINEERING