How to use the Simple Interest Calculator
- Enter the principal amount.
- Enter the yearly rate.
- Enter the time and choose years, months or days.
- See the interest and total amount.
Simple interest formula
SI = (P × R × T) ÷ 100, where P is the principal, R the yearly rate and T the time in years.
Example: ₹50,000 at 10% for 2 years gives SI = 50,000 × 10 × 2 ÷ 100 = ₹10,000. Total amount = ₹60,000.
If interest is quoted per month (for example "2 rupaye sekda" means 2% per month), multiply by 12 to get the yearly rate: 24%.
Frequently asked questions
What is the formula for simple interest?
SI = P × R × T ÷ 100.
How do I calculate interest for months?
Divide the months by 12 to convert to years, or choose "Months" in the calculator.
These tools give estimates for general guidance and are not financial or tax advice. Rates and rules can change; check official sources before making decisions.