Free Simple Interest Calculator » SI Calculator Online

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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What is Simple Interest Calculator.

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.

How deos a Simple Interest Calculator work?

A Simple Interest calculator work on the following formula.

SI= P X R X T /100

In the above formula

SI	Simple Interest.
P	Principal.
R	Rate of interest.
T	Time.

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.

How To Use SI Calculator?

It is very easy to use the Si calculator. Here are the steps to use a simple interest calculator:

Step 1: First of all you have to select the currency (This is optional.)
Step 2: Input the principal amount (ex. 5000).
Step 3: Input the Expected Return Rate (ex. 5%).
Step 4: Enter the time period (ex. 2 year).

With the help of these steps, you can easily calculate your Simple Interest, that too for free.

Simple Interest Calculator Calculator Features.

Some of the features of the Simple Interest Calculator tool are as follows:

Easy to use.
Free to use.
In this, you can select different types of currency with the help of select box. Sorry if you don't have the currency of your country, if you want to add, then contact.
For ease, you can easily increase or decrease the value with the help of slider on Principal Amount, interest, Time Period.
In Return, we have told you with the help of Google chart, with the help of which you can easily know your return and your total investment.

FAQs

What is Simple Interest Calculator?

When interest is charged only on the principal amount at one rate for a specified period of time, it is called simple interest.

What is the formula for simple interest?

Simple interest is calculated using the following formula: SI = P × R × T, where P = principal, R = interest rate, and T = time period.

What are the types of interest?

Simple interest.
Compound Interest.
interest rate structure.
cumulative interest or return.
Other Terms and Use.
This information was taken from Wikipedia