Simple Interest Calculator: Interest for Years, Months or Days
Enter the principal, the yearly rate and the time in years, months or days. The interest, the total amount and the working appear immediately.
- Nothing you type is stored
- Free
- No signup
Simple interest
₹12,000.00
- Total amount
- ₹62,000.00
- Interest per year
- ₹6,000.00
- Compound interest (yearly)
- ₹12,720.00
- Extra with compounding
- ₹720.00
Show working
- SI = P × R × T ÷ 100
- T = 2
- SI = 50000 × 12 × 2 ÷ 100 = ₹12000.00
- A = 50000 + 12000.00 = ₹62000.00
How to use
- Enter the principal amount.
- Enter the yearly interest rate.
- Enter the time and choose years, months or days.
Good to know
Simple interest is SI = P × R × T ÷ 100, where T is in years. Months are divided by 12 and days by 365, which is how most Indian lenders and textbooks count days.
Simple interest is used for short-term loans between people, some gold loans, interest on overdue payments and many school maths problems. Bank deposits and most investments use compound interest instead.
Monthly rates such as "2 rupees per hundred per month" are 24% a year in this calculator. Enter the yearly rate, i.e. the monthly rate × 12.
Questions
What is the simple interest formula?
SI = P × R × T ÷ 100 and Amount = P + SI.
How do I calculate SI for days?
Use T = days ÷ 365. For 73 days at 10% on ₹1 lakh, SI = 1,00,000 × 10 × 73 ÷ 36,500 = ₹2,000.
What does "2 rupees per hundred" interest mean?
Usually ₹2 per ₹100 per month, i.e. 24% a year.
Why is compound interest higher?
Because interest also earns interest. Over one year with yearly compounding the two are equal.
Is my data stored?
No. Everything is calculated on your device.