Algorithm :1. Read the values of principal amount, time and rate of simple interest into the locations labelled as P, T, R.2. Set the count T to 1 implying the end of a year.3. Calculate S.I = PTR/1004. Write the current values of T and S.I.5. Increase T by 16. If T≤5, complete the steps from 3 to 67. Else, stop.