Work out simple interest and total amount on a principal
₹0
Principal
Interest
| Year | Accumulated Interest | Total Amount |
|---|---|---|
| 1 | ₹10,000 | ₹1,10,000 |
| 2 | ₹20,000 | ₹1,20,000 |
| 3 | ₹30,000 | ₹1,30,000 |
Computes interest on the original principal only — it does not add prior interest back into the base. Total amount = principal + simple interest. Time can be entered in years or months (months are converted to years internally).
SI = P × R × T, with R as the annual rate in decimal and T in years. Equivalently SI = (P × R% × T) / 100 when R is a percentage.
SI = (P × R × T) / 100
Example: ₹1 lakh at 10% for 3 years → interest ₹30,000, total ₹1,30,000. Each year earns ₹10,000 interest on the same principal.
Some short-term loans, gold loans, and textbook problems use simple interest. Most bank FDs and mutual funds use compound interest instead — check the product terms before comparing numbers from this tool.
With simple interest, the interest charge each period stays flat because the base never grows. Compound interest reinvests earnings, so the balance curves upward over long tenures. Use our compound interest calculator for that case.
Processing fees, GST, TDS on interest, and prepayment penalties are not in the figure. The rate is assumed fixed for the full period. Reducing-balance loan methods (used on most home and car EMIs) are different from simple interest on the full principal.
Confirm whether your lender or deposit quotes simple or compound interest and whether the rate is per annum with daily, monthly, or yearly accrual. The year-by-year and month-by-month tables here show linear accumulation only.
Disclaimer: Figures are estimates. Actual interest depends on the product, day-count convention, and whether the rate stays constant.
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