As we always say at Freetronics - making your own test equipment is always a fun and educational process - as you can not only create something that is useful, along with learning a lot more about the targets of the equipment. Another great example of this is by Ritik Bhardwaj who shows how incredibly simple it is to make an Arduino-powered Ohm-meter (a device to measure the value of a resistor).
The device works on the principle of the voltage divider circuit, and with a little algebra and know input voltage (say 5V from the Arduino) it can calculate the resistance of the compinent under test. It's quite simple and it works, and a neat way to experiment with voltage dividers and electronics theory. The value of the resistor under test can be sent to the serial monitor or to an LCD as shown below:
Looking for a rapid-use LCD for your Arduino or compatible development boards such as the example above? Save time and move forward with the Freetronics LCD & Keypad shield which contains a bright 16x2 character LCD and five buttons that can be read from only one analogue input pin: