Simple Interest Calculator
Calculate simple interest and total amount using your principal, interest rate and time.
Simple interest calculator: quick answer
Simple interest is calculated on the original principal. The standard formula is SI = P × R × T / 100, where P is principal, R is the annual rate and T is time in years.
Example
For ₹10,000 at 5% per year for 2 years: SI = 10,000 × 5 × 2 / 100 = ₹1,000. The amount becomes ₹11,000.
Common mistakes
- Entering months as years.
- Using a monthly rate while the formula expects an annual rate.
Frequently asked questions
What is the simple interest formula?
SI = P × R × T / 100 when the rate is expressed as a yearly percentage and time is in years.
How do I calculate simple interest?
Multiply the principal by the annual interest rate and the time in years, then divide the result by 100. For example, ₹10,000 at 5% for 2 years gives ₹1,000 simple interest.
What is the total amount in simple interest?
The total amount is the original principal plus the simple interest. For example, if the principal is ₹10,000 and the interest is ₹1,000, the total amount is ₹11,000.