Simple Interest Calculator

How Simple Interest Calculator Works

Our Simple Interest Calculator helps you calculate the interest earned or payable on a principal amount over a specified period at a given rate of interest. You can quickly determine how much money you will gain or owe without complex calculations.

Input Fields:

• Principal Amount (₹): The initial amount of money you invest or borrow.
• Rate of Interest (%): Annual interest rate applicable to the principal.
• Time (Years): Duration for which the money is invested or borrowed.

Output Fields:

• Simple Interest (₹): The interest earned or payable over the period. Calculated as SI = (Principal × Rate × Time) / 100.
• Total Amount (₹): Sum of Principal and Interest, i.e., Total = Principal + SI.
• Year-wise Breakdown: Optional table showing interest accrued each year for better understanding.

Example:

Suppose you invest ₹50,000 at an annual interest rate of 6% for 3 years.

• Simple Interest = (50,000 × 6 × 3) / 100 = ₹9,000
• Total Amount = 50,000 + 9,000 = ₹59,000

This means after 3 years, you will receive ₹59,000 in total, including ₹9,000 as interest.

Why Use This Calculator?

• Quickly determine interest without manual calculations
• Plan savings and investments effectively
• Compare different interest rates and durations
• Understand yearly accrual with optional breakdown table

To use, simply enter the principal, rate of interest, and time period, then click the “Calculate” button. You can also download the results as a CSV or view a graphical representation of interest vs principal.