The Simple Interest Calculator computes interest that accrues only on the original principal. Enter the principal, annual rate and time in years or months to get the interest earned and the total amount due.
Simple interest made easy
Simple interest is calculated only on the principal amount, using the formula Interest = (P × R × T) ÷ 100. Unlike compound interest, it does not earn interest on previously accrued interest, making it common for short-term loans and certain fixed deposits.
Inputs
- Principal amount
- Annual interest rate (%)
- Time period in years or months
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