Simple Interest Calculator
Interest on principal only
Interest
₹24,000
- Principal
- ₹1,00,000
- Interest
- ₹24,000
- Total amount
- ₹1,24,000
- Per year
- ₹8,000
How it worksSimple interest = P × R × T ÷ 100.
FAQs
What is the simple interest formula?
Simple Interest = P × R × T ÷ 100, where P is principal, R is the yearly rate and T is time in years.
How is simple interest different from compound interest?
Simple interest is calculated only on the original principal. Compound interest is also calculated on interest already earned.
How do I calculate interest for months?
Choose Months in the calculator. It converts months to years (months ÷ 12) automatically.