Simple Interest Calculator
Basic interest calculation for loans or savings.
Input Values
Adjust parameters below
1001,000,000
₹
150
%
130
Ys
RESULT
Interest
$1,000
MONEY
Total Amount
$11,000How It Works
Guide and Formula
Simple Interest Formula
Simple Interest is calculated only on the principal amount, ignoring any previously earned interest.
Formula:
SI = \frac{P \times R \times T}{100}
Where:
P = Principal Amount
R = Annual Interest Rate %
T = Time in Years
Total Amount:
A = P + SI
?FAQs
Where is simple interest used?
It is often used for short-term loans, car loans by some dealers, or informal lending.
How differs from Compound Interest?
SI is linear growth calculation. CI is exponential growth because interest earns interest.