Simple Interest Calculator
Calculate simple interest earned on an investment or loan.
Calculator
Calculator Details
Enter your information to calculate results
Results
₹0
Monthly EMI
₹1,050
Total Amount
₹50
Total Interest
Payment Breakdown
Principal Amount
₹1,000Total Interest
₹50Interest Percentage4.8%
How It Works
Simple interest is calculated using the following formula:
Simple Interest = (P × R × T) / 100
Where:
- P = Principal amount
- R = Annual interest rate
- T = Time in years
This formula helps you understand how much interest you'll earn over time.
Examples
Example 1: Basic Savings
Principal: $1,000
Rate: 5% per annum
Time: 1 year
Simple Interest: $50
Example 2: Long-Term Investment
Principal: $5,000
Rate: 7% per annum
Time: 5 years
Simple Interest: $1,750
Compare
Simple Interest vs Compound Interest:
- Simple Interest: Interest is earned only on the principal amount
- Compound Interest: Interest is earned on both the principal and accumulated interest
Compound interest generally yields higher returns over longer periods.
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