Calculate Simple Interest
I = P × R × T ÷ 100
Initial amount
Per year
Duration
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Total Interest
—
Final Amount
—
Monthly Interest
Solve for Unknown Variable
I = P × R × T ÷ 100
Enter any three values to solve for the fourth.
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Enter 3 of 4 values
About Simple Interest
Simple interest is calculated only on the original principal, not on accumulated interest. The formula is I = P × R × T ÷ 100 where P is the principal, R is the annual rate in percent, and T is time in years.
Unlike compound interest, simple interest grows linearly. It's commonly used for short-term loans, car loans, and some bonds.