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Simple Interest

What is Simple Interest?

Generally, simple interest paid or received over a certain period is a fixed percentage of the principal amount that was borrowed or lent.

How is Simple Interest calculated?

To calculate Simple interest, you need to use the following formula.

Amount = Principal
1 + ( rate / 100 ) * time
Interest = Amount - Principal

How to use Simple Interest Calculator?

To use Simple Interest Calculator

  • Enter principal amount
  • Enter rate of interest
  • Enter time period involved
  • No need to press equal button. (It is automated)
  • The final result you will see are interest and total amount to pay.
  • To Clear calculations press CE button
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