Simple Interest Calculator
Simple interest and total amount for any principal, rate and time in years, months or days.
About Simple Interest Calculator
This free simple interest calculator works out the interest and total amount on any principal. Enter the principal, the yearly rate of interest and the time, choosing years, months or days, and the answer appears instantly using SI = P × R × T ÷ 100.
Months are divided by 12 and days by 365, the convention Indian banks use, so it also works as a simple interest calculator in days for short-term loans and deposits. It is handy for students checking sadharan byaj sums, for informal lending and for short deposits. Everything is calculated in your browser.
How to use Simple Interest Calculator
- Enter the principal and yearly interest rate.
- Enter the time and choose years, months or days.
- Read the interest and total amount.
Frequently asked questions
What is the simple interest formula?
SI = P × R × T ÷ 100, where P is the principal, R the rate per year and T the time in years. Amount = P + SI.
How is time in months or days converted?
Months are divided by 12 and days by 365 to get years, the convention used by Indian banks for simple interest.
Where is simple interest used?
Short-term deposits under six months, some personal and gold loans, and informal lending. Longer deposits usually compound.
What is simple interest in Hindi?
It is called sadharan byaj (साधारण ब्याज) — interest charged only on the original principal.
How do I calculate simple interest for months?
Divide the months by 12 to get years, then apply SI = P × R × T ÷ 100. For ₹50,000 at 12% for 6 months, SI = 50,000 × 12 × 0.5 ÷ 100 = ₹3,000.
How do I find the principal from simple interest?
Principal = SI × 100 ÷ (R × T).
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