Simple Interest Calculator

Principal Amount

Enter amount between 500 to 1 Cr
1000 1 Cr

Tenure (Years)

Enter Value between 1 and 30
1 30

Interest Rate (% P.A)

Enter Value between 1 and 30
%
1 30
Principal Amount
16,00,000
Interest Amount
₹ 9,57,568
Total Amount
₹25,57,568

A Comprehensive Guide on How to Use Simple Interest Calculator

What Is a Simple Interest Calculator?

What Is the Formula to Calculate Simple Interest?

Simple interest calculation follows the formula discussed below,

A = P (1+rt)

The variables used in this formula are as follows,

P = Principal Amount

t = Number of years

r = Rate of interest

A = Total accrued amount (both interest and principal)

The formula to calculate interest is as follows,

Interest = A – P

As individuals know the simple interest formula, let’s see the way it works/show results in a calculator.

Online simple interest calculator eases the calculation process. Here, individuals have to enter details in the respective fields or adjust sliders to set the principal amount.  Individuals have to enter data in three areas, namely principal, interest rate, time.

Let’s understand this calculation more clearly with the help of an example given below!

Suppose Mr. Rajan has invested an amount of ₹ 10,000 for 6 years at an interest rate of 10%.

The interest and amount he will accrue after 2 years will be,

Input

Value

Principal

₹ 10,000

Interest Rate

10%

Tenure

6 years

Once individuals enter details in the required fields, this simple interest calculator will display the following result.

Output

Values

Total Amount A = 10,000 (1+0.1*6)

₹ 16,000

Interest Amount A – P = 16000 – 10000

₹ 6,000

A simple interest calculator helps individuals get results and also offer other benefits. Read the next section to know about this!

What Are the Advantages of Using a Simple Interest Calculator?

What Are the Components of Simple Interest?

What Factors Affect Simple Interest?

Frequently Asked Questions