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Simple Interest Calculator

Work out simple interest and total amount in seconds.

₹
%
years
Time in
Principal
₹50,000.00
Simple interest
₹12,000.00
Total amount
₹62,000.00

SI = ₹50,000 × 8% × 3 years ÷ 100 = ₹12,000.00

Principal₹50,000 (81%)
Interest₹12,000 (19%)

How to use

  1. 1Enter the principal (amount borrowed or invested).
  2. 2Enter the yearly interest rate.
  3. 3Enter the time and choose years, months or days.
  4. 4See the simple interest and the total amount right away.

Frequently asked questions

What is the simple interest formula?

SI = P × R × T ÷ 100, where P is the principal, R the yearly rate in % and T the time in years.

How do I calculate interest for months or days?

Convert the time into years: months ÷ 12, or days ÷ 365. The calculator does this for you when you pick months or days.

Where is simple interest used?

It's common for short-term personal loans, some car loans, and school maths problems. Most bank deposits use compound interest instead.

How do I find the total amount?

Total amount = Principal + Simple interest.

Is simple interest better than compound interest?

When you borrow, simple interest costs less. When you invest, compound interest earns more because interest also earns interest.

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