Simple Interest Calculator
Quickly calculate simple interest on any principal amount.
Principal₹1,00,000
Simple Interest₹40,000
Total Amount₹1,40,000
How to use the Simple Interest Calculator
Enter the principal, annual rate, and time period in years.
- 1
Enter principal
The original amount.
- 2
Enter rate and time
Annual interest rate and duration in years.
Frequently Asked Questions
What is the formula for simple interest?
Simple Interest = (Principal × Rate × Time) / 100.
When is simple interest used instead of compound interest?
Simple interest is commonly used for short-term loans and some fixed deposits, while compound interest is more common for savings and long-term loans.