An authority requires a deposit on a car loan according to the following schedul

Question

An authority requires a deposit on a car loan according to the following schedule:

            Loan$                                                              Deposit

            Less than $10000                                            10% of loan value

Less than $15000                                            $200 + 6% of loan value

            Less than $20000                                            $500+ 5% of loan value

            Less than $50000                                            $1000 + 3% of loan value

Loans in excess of $50000 are not allowed. Write a C not C++ program that will read a loan amount and compute and print the required deposit to the nearst cent. For Example: A Loan amount of $49999 is calculated by (49999x.03) + 1000 = $2499.97

Explanation / Answer

#include <stdio.h>
#include <ctype.h>
int main()
{

double loanAmount;
int fee = 0;
int percentage;
double deposit;
printf("Enter the loan amount: ");
scanf("%lf", &loanAmount);
if(loanAmount < 50000) {

if(loanAmount < 10000) {
percentage= 10;
fee = 0;

} else if(loanAmount >=10000 && loanAmount < 15000) {
percentage = 6;
fee = 200;
} else if(loanAmount >=15000 && loanAmount < 20000) {
percentage = 5;
fee = 500;
} else if(loanAmount >=20000 && loanAmount < 50000) {
percentage = 3;
fee = 1000;  
}
deposit = (loanAmount * percentage)/100 + fee;
printf("Deposit Amount is $%.2lf ", deposit);
}
else {
printf("Loans in excess of $50000 are not allowed ");
}
return 0;
}

Output:

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