Simple Interest Calculator
Simple Interest calculator is an online tool to calculate how much interest will be charged on a principal at certain interest rate for particular period of time. 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
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. When it comes to online calculation, this simple interest calculator can assist you to calculate the total interest after certain period of time

