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Simple Interest Calculator

Select currency:  
Principal amount: $
Annual interest rate: (% per year)  
Period:  
   
Interest amount: $  
Total amount: $  

Simple Interest Calculator :

Enter the values to calculate simple interest.

Our simple interest calculator calculates interest rates on your loan, personal savings, and investments for days, weeks, months, quarters, and years. Our online free interest calculator supports different countries currency interest calculations includes the dollar, pound, euro, rupee, krona, Leu, Lira, Peso, Ringgit, Shekel, & Zloty. Our simple loan calculator provides you result as the total final amount including interest, and Interest amount with formula and example.

It supports to calculate interest per day, week, month, and year. It measures simple loan interest for a fixed time period involved in it like saved amount in a savings account and borrowing a fixed amount. Our easy calculator shows your original principal amount details and principal plus interest amount earn.

Simple Interest Definition :

Simple interest is a method to calculate interest rate on a loan or deposited money. If the interest rate is constant for borrowed money for a certain time period then interest is called "simple interest".

Simple interest formula :

SI = P X R X T / 100

where

P = Principal amount.

T = Time period.

R = Rate of interest.

Final amount after interest added.

Final amount = Principal amount + Interest.

Final Amount = P(1 + rt) where

P = Principal amount

R = Rate of interest.

T = Time period.

How to find simple interest?

To find simple interest calculation you need three matrices they are Principal Amount, Rate of interest, & Time Period. If you have this data then you need to use simple interest formula and calculate interest amount and the final amount of your loan or deposited amount.

Example:

Calculate the simple annual interest rate for the loan amount Rs.10,000 & the Interest rate is 8% for 4 yrs of time?

Principal amount (p)= 10,000; Interest rate (r) = 8%; Time period (t) = 4.

Then simple Interest = __ ?

We know that SI = (p X r X t) / 100

SI = (10,000 X 8 X 4) / 100

Answer:

Earn interest = 3,200.00

Total amount = principal balance + earn interest

Total amount = 10,000 + 3200

Answer:

T.A = 13200