Quickly work out simple interest in days, months or years.
What is the Simple Interest Calculator?
Simple interest is interest charged only on the original amount. This simple interest calculator uses the formula SI = P × R × T ÷ 100 and shows the interest, the total amount and the yearly interest.
How to use the Simple Interest Calculator
- Enter the principal (starting amount).
- Enter the yearly interest rate.
- Enter the time and pick years, months or days.
Frequently asked questions
What is the simple interest formula?
SI = (Principal × Rate × Time) ÷ 100, where time is in years.
How is it different from compound interest?
Simple interest never earns interest on interest. Compound interest does, so it grows faster.
This simple interest calculator is 100% free, needs no signup and runs in your browser, so your data stays private.
Last updated: · By NodifyTech