Simple Interest Calculator

Share

Select currency
Principal Amount
Rate of Interest(p.a)
%
Time Period(years)
year
Principal AmountInterestTotal Amount
1,00,000 0 1,00,000

Simple interest is a method of calculating interest on a loan or investment where the interest is calculated only on the principal amount. This means that the interest is not compounded, and remains constant throughout the loan or investment period. The formula for calculating simple interest is: Interest = (Principal x Rate x Time) / 100


Simple Interest Calculator - FAQ

What is the difference between simple interest and compound interest?

Simple interest is calculated only on the principal amount, while compound interest is calculated on both the principal amount and the accumulated interest. This means that compound interest can result in a higher overall interest amount over time.