What is the full form of Oops and how it can help in designing banking-based applications?

 In the context of Python programming language the OOPS full form is object-oriented programming. It can help you in designing the Banking-based application. You can design a banking-based system that includes different types of classes for various account types like savings, checking, and investment.

Here is the basic example given by using Python programming language:

Class Account:

    Def __init__(self, acc_number, balance=0):

        Self.acc_number = acc_number

        Self.balance = balance

    Def deposit(self, amount):

        Self.balance += amount

        Print(f”Deposited {amount} into account {self.acc_number}. New balance is {self.balance}”)

    Def withdraw(self, amount):

        If self.balance >= amount:

            Self.balance -= amount

            Print(f”Withdrew {amount} from account {self.acc_number}. New balance is {self.balance}”)

        Else:

            Print(“Insufficient funds”)

Class SavingsAccount(Account):

    Def __init__(self, acc_number, balance=0, interest_rate=0.05):

        Super().__init__(acc_number, balance)

        Self.interest_rate = interest_rate

    Def add_interest(self):

        Interest = self.balance * self.interest_rate

        Self.balance += interest

        Print(f”Added interest to account {self.acc_number}. New balance is {self.balance}”)

Class CheckingAccount(Account):

    Def __init__(self, acc_number, balance=0, overdraft_limit=1000):

        Super().__init__(acc_number, balance)

        Self.overdraft_limit = overdraft_limit

    Def withdraw(self, amount):

        If self.balance + self.overdraft_li

This above coding snippet demonstrates a fundamental structure by using the inheritance in which “savingAccount” and “CheckingAccount” are inherited from the class of “Account”. Every subclass includes its unique characteristics or attributes such as interest rate or withdrawal limit while inheritance common functionalities from the “account” class. This above design allows you to reuse the codes and offer more accounts to be added without duplicating the common functionalities.