Simple Interest Calculator Tool
Calculate simple interest on loans, investments, and savings
Calculation Type
Input Values
$
%
Calculating…
Interest Results
Simple Interest Calculation
$0.00
Principal Amount (P):
$0.00
Interest Rate (R):
0%
Time Period (T):
0 years
Simple Interest (I):
$0.00
Total Amount (A):
$0.00
Formula: Simple Interest (I) = P × R × T / 100
How Simple Interest Works
Simple Interest is calculated only on the principal amount, not on any accumulated interest.
For a $10,000 investment at 5% for 3 years:
Interest = $10,000 × 5 × 3 / 100 = $1,500
Total Amount = $10,000 + $1,500 = $11,500
Enter values to calculate simple interest
Calculation History
Your interest calculation history will appear here
About Simple Interest
Simple Interest is a quick method to calculate the interest charge on a loan or investment.
- Formula: I = P × R × T / 100
- Where: I = Interest, P = Principal, R = Rate of interest per year, T = Time period in years
- Total Amount: A = P + I = P(1 + RT/100)
- Simple interest is commonly used for short-term loans, car loans, and some savings accounts.
- Unlike compound interest, simple interest doesn’t earn interest on interest.
Note: For long-term investments, compound interest typically yields higher returns. Always consult with a financial advisor for important financial decisions.