Simple Interest Calculator
Calculate simple interest and total amount using P × R × T / 100 — with years/months/days support.
Explanation
The Simple Interest Calculator computes interest using the standard formula SI = (P × R × T) / 100, where: P is principal, R is annual rate in percent, and T is time in years. If you choose months or days, the calculator converts them to years automatically.
Tip: Simple interest does not compound. If your investment/loan compounds, use a compound interest calculator instead.
Formula
SI = (P × R × T) / 100 Total Amount = P + SI
FAQs
When used?
Short-term loans and simple savings formulas.
Compounding?
Simple interest does not compound.
Units for T?
If your rate is annual, time should be in years. Months/days are converted to years automatically.
Currency?
Use any currency. Interest and totals are displayed in the same currency.
Can R be fractional?
Yes. Rates like 7.25% are valid.