This calculator computes the simple interest and end balance of a savings or investment account. It also calculates the other parameters of the simple interest formula.

Mar 18, 2025 · To calculate simple interest, start by multiplying the principal, which is the initial sum borrowed, by the loan’s interest rate written as a decimal. Then, multiply that number by the total number of time periods since the loan began to find the simple interest.

The formula for simple interest helps you find the interest amount if the principal amount, rate of interest and time periods are given. Simple interest formula is given as: \(\begin{array}{l}\large \mathbf{SI=\frac{PTR}{100}}\end{array} \)

Nov 5, 2024 · How to Calculate Simple Interest. This calculator computes simple interest on savings given principal, rate and time. Using the formula I = Prt, multiply the investment principal by interest rate and time period. For the formula I = Prt: I = Interest amount; P = Principal amount; R = Rate of interest per year as a percent

Simple interest is calculated with the following formula: S.I. = (P × R × T)/100, where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years. The rate of interest is in percentage R% (and is to be written as R/100, thus 100 in the formula). To understand more about this formula, click here.

On this page, you can calculate simple interest (SI) given principal, interest rate and time duration in days, months or years. We have made it easy for you to enter daily, weekly, monthly or annually charged interest rates. e.g., 2% interest per month, 5% per week, 10% per year. To find time period between two dates, use date duration calculator.

Nov 19, 2024 · Calculate simple interest plus principal on an investment or savings. Simple interest calculator finds interest rate, time or total balance using the formula A = P(1 + rt).