Calculate Simple Interest
Principal Amount:
₹0
Interest Rate:
0%
Time Period:
0
Simple Interest:
₹0
Total Amount:
₹0
About Simple Interest
Simple Interest (SI) is calculated on the principal amount only. It does not compound over time.
Simple Interest Formula:
SI = (P × R × T) / 100
Where:
P = Principal Amount
R = Rate of Interest per annum
T = Time period in years
Total Amount Formula:
A = P + SI = P + (P × R × T) / 100
When to Use Simple Interest:
- Short-term loans
- Car loans (some banks)
- Personal loans
- Simple savings calculations
Example:
Principal = ₹10,000
Rate = 10% per annum
Time = 2 years
SI = (10,000 × 10 × 2) / 100 = ₹2,000
Total Amount = ₹10,000 + ₹2,000 = ₹12,000