Principal
Interest
Total amount ₹0
Principal ₹0
Simple interest ₹0
Year-wise growth
| Year | Interest | Total |
|---|
Simple interest formula
Simple Interest = P × R × T ÷ 100, where P is the principal, R is the annual interest rate and T is the time in years. The total amount you get back is principal plus interest. Unlike compound interest, simple interest is charged only on the original principal, so the interest each year stays the same.
FAQs
SI = P × R × T ÷ 100. Total amount = principal + simple interest.
Simple interest is only on the original principal (same each year). Compound interest is on principal plus past interest, so it grows faster.