Simple interest is the extra amount you pay or earn, and it is calculated based on the original amount of money, known as the principal. Simple Interest Calculator calculates simple interest and total amount in just a few seconds.
The formula for simple interest-
I=P*N*R/100
Where,
I= Simple Interest
P = Principal Amount
N= Time Period
R= Rate of Interest
The total amount is calculated using the following formula-
A = P + I
Where,
A = Total Amount
P = Principal Amount
I = Simple Interest
Just enter the values and click on the Calculate button, you will get the interest amount as well as the total amount calculated within a fraction of seconds!
