Simple Interest Calculator
Calculate simple interest on your principal amount.
Initial amount invested.
₹
Annual interest rate.
%
Duration in years.
Years
Simple vs Compound
Simple interest is calculated only on the principal. Use for short-term loans or deposits.
Total Amount
₹ 0
After 5 years at 7% simple interest
Principal
Initial Amount
1 L
Interest
Simple Interest
0
Time
Duration
5 Years
Documentation
How Simple Interest Works
Simple interest is calculated on the original principal only. It does not compound, making it straightforward for short-term calculations.
Common Use
"Car loans, personal loans, some savings accounts, and short-duration deposits."
The Formula
SI = (P × R × T) / 100
P = Principal, R = Annual Rate (%), T = Time in years. Total Amount = P + SI.