Compound Interest Calculator
Interest on interest
Total amount
₹1,46,933
≈ ₹1.47 Lakh
- Principal
- ₹1,00,000
- Compound interest
- ₹46,932.81
- Extra vs simple interest
- ₹6,932.81
- Compounding
- yearly
How it worksAmount = P × (1 + r/k)^(k × t), where k is compounding periods per year.
FAQs
What is the compound interest formula?
Amount = P × (1 + r/k)^(k × t), where k is how many times interest is added per year.
Does more frequent compounding give more interest?
Yes. Monthly compounding gives slightly more than quarterly, which gives more than yearly, at the same rate.
What is the Rule of 72?
Divide 72 by the yearly interest rate to estimate how many years it takes to double your money. At 8%, it takes about 9 years.