Simple Interest Calculator
Calculate simple interest and the total amount for any principal, rate and period.
Year-by-year table
The formula
Simple interest is charged only on the original amount: SI = P × R × T ÷ 100. The total repaid is P + SI. It is used for many short personal loans, gold loans and informal lending.
Simple vs compound
With compound interest, interest is added to the balance and itself earns interest. Over one year the two are close; over ten years compound interest is far larger. Try the same numbers in the compound interest calculator to compare.
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This is an estimate for planning only, not financial, tax or medical advice.