Simple Interest Calculator
Calculate simple interest on loans and investments quickly and accurately
Simple Interest Formula
Simple Interest (SI) = (P × R × T) / 100
Where:
P = Principal Amount
R = Rate of Interest (% per annum)
T = Time Period (in years)
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About Simple Interest
Simple interest is calculated only on the principal amount. It doesn't compound over time, making it different from compound interest. Simple interest is commonly used for short-term loans and investments.