Simple interest calculator

Simple interest calculator

calculatorway provide free to use online to used simple interest calculator to determine the interest amount and total amount after the increment of interest. this calculator is used to calculate the interest rate on loans.

◉ Simple interest is the easiest way to calculate how much to pay for a loan. Simply put in the loan amount, the interest rate, the number of periods, and then press calculate! You can then look at the results and see how much interest was accumulated over the course of the loan! The simple interest calculator is fast, easy, and can be used online by anyone to get the results they want without having to deal with any annoying advertisements or pop ups. By making sure you use the calculator, you can make sure to get to results you want in the easiest way possible!

◉ Total Amount is equal to the addition of principal amount and total simple interest

Formula of simple interest

• simple interest(SI) = P x R x T / 100
• SI = Simple interest
• P = Principal amount
• R = Rate of interest(P.A)
• T = Time in year

How to calculate the discounted price.

Example.1:-Find the simple interest if $2000 invested for 2 years on 25% P.A?

solve:-simple interest(SI) = P x R x T / 100 = 2000*25*2/100 = 1000

Total Amount = SI + Principal Amount = 1000 + 2000 = 3000

Example.2:-Find the simple interest, if $1000 invested for 2 years 6 month on 10% pa.

solve:-T = 2 + 6/12 = 2 + 1/2 = 5/2 yr

SI = P x R x T / 100 = 1000*10*2.5/100 = $250

Total Amount = $250 + $1000 = $1250

✍Table of simple interest calculator

How to use this simple interest calculator ❓

Enter the principal amount in the proper input field and rate of interest(pa) enter a percentage value in the proper input field and then finally entered in time duration(yr) and then click the calculate button you get all answers in the answer box with principal amount, total interest and total amount.

Thanks 💙