📊 Simple Interest Calculator

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