Simple Interest

Calculate simple interest.

Frequently Asked Questions

What is the simple interest formula?+
SI = (P × R × T) / 100, where P is the principal amount, R is the annual interest rate, and T is the time period in years.
When is simple interest used?+
Simple interest is commonly used for short-term loans, car loans, and some personal loans where interest is charged only on the original principal, not on accumulated interest.