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Simple Interest Calculator

Calculate simple interest on loans or investments. Simple interest is calculated only on the principal amount.

Loan/Investment Details

Results update as you type.

About Simple Interest

Simple interest is calculated only on the principal amount. Unlike compound interest, it does not account for interest on accumulated interest.

Formula: I = P × r × t

Where:
  • I = Interest amount
  • P = Principal (initial amount)
  • r = Annual interest rate (decimal)
  • t = Time in years

Simple vs. Compound Interest

Simple Interest

  • Calculated only on principal
  • Interest amount stays constant each period
  • Lower returns for investors
  • Lower cost for borrowers

Compound Interest

  • Calculated on principal + accumulated interest
  • Interest amount grows each period
  • Higher returns for investors
  • Higher cost for borrowers

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