SI calculator has been developed to calculate simple interest, with the help of which you can easily calculate simple interest. This calculator helps you to calculate the interest earned or paid on a particular amount of principal during a specific time period.
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Whenever we lend money to any person, then we take interest on those money for a fixed time which we call simple interest. To calculate this simple interest, we have created this tool, with the help of which you can calculate simple interest.
A simple interest calculator is a utility tool that calculates the interest on loans or savings without compounding.
A Simple Interest calculator work on the following formula.
SI= P X R X T /100
In the above formula
|R||Rate of interest.|
Mr. X has invested an amount of Rs. 10000 at an interest rate of 7% for almost 5 years. So his SI will be calculated as Rs. (10000 X 7 X 5/100) which is equal to Rs.13500.
It is very easy to use the Si calculator. Here are the steps to use a simple interest calculator:
With the help of these steps, you can easily calculate your Simple Interest, that too for free.
Some of the features of the Simple Interest Calculator tool are as follows: