Plan your savings with our Simple Interest Calculator. Input your principal amount, interest rate, and tenure to get detailed insights into your total interest, final amount, and growth table – created by Mr. Dhananjoy Ghosh.
What is simple interest?
Simple interest is the interest calculated only on the initial principal amount, not on accumulated interest.
How is simple interest calculated?
It’s calculated using the formula: SI = P × R × T / 100, where P is the principal, R is the annual rate, and T is the tenure in years.
What’s the growth table?
It’s a table showing the principal, interest earned, and total value year by year.
How does simple interest differ from compound interest?
Simple interest is calculated only on the principal, while compound interest is calculated on the principal plus accumulated interest.
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