SI
Simple Interest Calculator
Enter principal, interest rate and time — simple interest and total amount are calculated with the P×R×T/100 formula.
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Details
Result
—
Simple interest
Principal—
Total amount (P + SI)—
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How to use — Simple Interest Calculator
- Enter the principal amount — the money lent/borrowed.
- Enter the annual interest rate (e.g. 10%).
- Enter the time in years or months.
- Click Calculate — see the simple interest and total amount.
FAQ
What is the simple interest formula?
SI = P × R × T ÷ 100, where P = principal, R = annual rate, and T = time in years. Total amount = P + SI.
Where is simple interest used?
In personal loans, gold loans, some vehicle loans, and short-term lending. Bank deposits mostly use compound interest.
How do I calculate interest on a monthly basis?
Select the "Months" time unit — the tool converts months to years (months ÷ 12). "2 rupees per hundred" means 2% per month = 24% per year.
Which is more — simple or compound?
For the same rate and time, compound interest is always more (after 1 period), because it also earns interest on interest.
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