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Simple Interest Calculator

Calculate simple interest on loans and investments with fixed interest rates. Get instant results with step-by-step explanations.

Calculate Simple Interest

Enter your principal amount, interest rate, and time period

Simple Interest Formula:

Interest = Principal × Rate × Time ÷ 100

Interest Calculation Results

Interest Earned
$0.00
Total Amount
$0.00
Monthly Return
$0.00

Calculation Breakdown

Principal:$1,000.00
Interest Rate:5% per year
Time Period:2 years
Interest Earned:$0.00
Total Amount:$0.00

How Simple Interest Works

What is Simple Interest?

Simple interest is calculated only on the principal amount (initial sum) and does not compound. It's commonly used for short-term loans and basic savings accounts.

Formula

Interest = (Principal × Rate × Time) ÷ 100

Example Calculation

If you invest $1,000 at 5% simple interest for 2 years:

  • • Interest = ($1,000 × 5 × 2) ÷ 100 = $100
  • • Total Amount = $1,000 + $100 = $1,100
  • • Monthly Return = $100 ÷ 24 months = $4.17

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Calculation History

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