Calculate simple interest & total amount instantly
Enter the principal amount, annual interest rate, and time period in years. The calculator uses the formula SI = P × R × T / 100 where P is the principal, R is the annual rate, and T is time in years. The total amount is the principal plus the simple interest. This is different from compound interest where interest is calculated on accumulated interest too. Simple interest is commonly used for short-term loans and some fixed deposits.
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