Calculates simple interest on the principal amount and does not include the compounding effect. Enter the values of any three parameters in the fields of the Simple Interest Calculator and calculate the missing parameter.
Simple interest formula
Simple interest ( I ) is calculated by multiplying the principal amount (P) by the interest rate (R) by the number of time periods (T): I = P * R * T . All the calculations are performed according to this formula.
In this formula R is in the decimal form, but in the appropriate field of the calculator the rate should be entered in the percentage form. R is expressed in % per annum, and T can be expressed in different time units.
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