Simple Interest
This Calculator helps you to calcualte the simple interest of the provided loan amount.
Simple Interest Calculator
Rs.
Years
%
Result:
Principal amount: | 0 |
Number of years: | 0 |
Interest Rate %: | 0 |
Simple Interest | 0 |
Split up of Interest and Principal:
How to use this Simple Interest Calculator?
- Principal Amount: Enter the principal amount.
- Number of years: Enter the number of years.
- Interest Rate: Enter the interest rate.
Simple Interest Calculation Formula:
- Si = Simple Interest
- P = Principal amount
- n = Number of years
- i = Rate of Interest
This Simple Interest calculator using the below formula in order to calculate the interest value.
Si = P × i × n
Where,
Simple Interest Calculation Example:
Below table will provide an example of how simple interest is calculated. In this exampl, an investment of Rs.20000 was made for 4 years with interest rate of 10%.
Years | Calucation of Interest | Earned Interest | Closing balance |
Year 1 | 20000 * 10% | Rs.2000 | Rs.20000 |
Year 2 | Rs.20000 * 10% | Rs.2000 | Rs.20000 |
Year 3 | Rs.20000 * 10% | Rs.2000 | Rs.20000 |
Year 4 | Rs.20000 * 10% | Rs.2000 | Rs.20000 |
If you would like to calculate the initerest with compounding, please try our Compound Interest Calculator.