I = P × R × T / 100, where P is principal, R is rate %, T is time in years.

Difference vs compound?

Simple interest is calculated only on the original principal each year.

Auto loans, short-term personal loans and many bonds use simple interest.

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Simple Interest Calculator

Calculate simple interest on principal over time.

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Principal

Rate (% / yr)

Time (years)

Interest

$4000.00

Total: $14000.00

Example Usage

$10,000 at 8% simple for 5 years → $4,000 interest.

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Example Usage

Frequently Asked Questions

Formula?

Difference vs compound?

When is it used?

More Finance Tools

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Compound Interest Calculator

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Example Usage

Frequently Asked Questions

Formula?

Difference vs compound?

When is it used?

More Finance Tools

Loan EMI Calculator

GST Calculator

Compound Interest Calculator

Currency Converter