Simple Interest (SI) Calculator

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Simple Interest Calculation




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simple interest calculator is an online interest calculation tool to find the time value of money to calculate how much interest will be earned or charged on a principal sum at certain interest rate for particular period of time. Unlike compound interest calculation, the principal sum will not be changed and remain constant through out the period for which the principal sum is borrowed. When money is borrowed or lended at simple interest, the interest will be charged on the original amount of money, and not on any interest that it has earned. The interest on principal remains same for every month or every year and it is calculated from the principal amount, simple interest rate and length of the time. It can be calculated from the given formula
simple interest calculation formula

where
P = Principle
R = The rate of Interest in percentage
T = Total time period

Simple interest is often abbreviated as SI and is the most basic type of interest and having your money works for you. It is featured SI calculator which allows user to calculate the interest in any unit of World currencies like USD, GBP, AUD, JPY, INR, NZD, CHF etc. To calculate the simple interest in the desired currency, select the currency from the world currencies drop down menu provided just above the calculator. When it comes to online calculation, this simple interest calculator may assist you to calculate the total interest for a certain period of time at a certain rate of interest.