What is Simple Interest?
Simple interest (SI) is a method of calculating the interest charged or accrued on a principal sum over a specified period of time at a constant interest rate. It is usually used in short-term loans or deposits.
Formula – Simple Interest (SI) = (Principal × Rate × Time) / 100
Total Amount Formula:
Formula: Total Amount = Principal + SI
Here is the simple interest calculator or total amount:
Simple Interest Calculator
Find Total Amount
How to Use This Calculator
This Simple Interest Calculator helps you quickly compute interest and total amount based on a given principal, interest rate, and time in years.
Formula Used:
Simple Interest (SI) = (Principal × Rate × Time) / 100
Total Amount = Principal + SI
Requirements:
- Principal amount in ₹
- Annual interest rate in %
- Time period in years
You can also use the second section to directly calculate the total amount if you already know the interest.