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Simple Interest Calculator

Calculate simple interest and the total amount for a period in years, months or days.

  • Free
  • No sign-up
  • Runs in your browser

Months count as 1/12 of a year and days as 1/365.

Simple interest
₹24,000.00
Principal
₹1,00,000.00
Total amount
₹1,24,000.00

How to use Simple Interest Calculator

How to use this calculator:

  • Enter the principal, the amount you start with.
  • Enter the yearly interest rate.
  • Enter the time and choose years, months or days.
  • Read the interest and the total amount.

Formula. Simple interest = P × R × T ÷ 100, where P is the principal, R is the yearly rate in percent and T is the time in years. Months count as 1/12 of a year and days as 1/365. Some lenders use other conventions, so their figure can differ slightly.

Examples

  • ₹1,00,000 at 8% for 3 years

    The interest is ₹24,000 and the total is ₹1,24,000.

  • ₹1,00,000 at 8% for 6 months

    The interest is ₹4,000 and the total is ₹1,04,000.

  • ₹50,000 at 9% for 90 days

    The interest is about ₹1,109.59 and the total is about ₹51,109.59.

Frequently asked questions

What is simple interest?

Interest worked out only on the original amount (the principal), so it is the same every year.

How is it different from compound interest?

Compound interest also earns interest on interest already added. For one year they are the same, and the gap grows with time.

How are months and days handled?

A month is counted as 1/12 of a year and a day as 1/365 of a year.

Can I find the rate or time instead?

This calculator works forward from principal, rate and time. The guide article shows how to rearrange the formula to find any of the others.

Guides about Simple Interest Calculator

Money Guides31 October 20264 min read

Simple Interest Formula: How It Works With Examples

The simple interest formula, worked examples in years, months and days, and how simple interest compares with compound interest on the same numbers.

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