Simple Interest Calculator
Calculate the interest earned or paid on a principal amount over time.
In-Depth Guide
Everything you need to know
Unlike compound interest, Simple Interest is calculated only on the principal amount of a loan or investment. It is commonly used for short-term loans and basic savings accounts.
The Formula:
Interest = (Principal × Rate × Time) / 100
This tool handles any time period provided in years. For months, use decimal values (e.g., 6 months = 0.5 years).