Simple Interest Calculator
Calculate simple interest on a principal amount over a fixed duration.
$
%
Total amount
$11,500
Principal
$10,000
Interest earned
$1,500
Formula
Interest = (Principal × Rate × Time) ÷ 100
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Frequently Asked Questions
How is simple interest different from compound interest?
Simple interest is calculated only on the original principal for the entire duration, while compound interest is calculated on the principal plus any previously earned interest, so compound interest grows faster over time.