DeskTray

Simple Interest Calculator

Calculate simple interest for loans between friends, money lenders or deposits. Works with yearly rates and monthly rates such as “2 rupees per hundred per month”.

Runs in your browser. Nothing is uploaded Free, no sign-up Works on mobile
₹
50 Thousand
%
Rate is per
Village money lenders often quote a monthly rate, e.g. ₹2 per ₹100 per month = 2% a month = 24% a year
Time in
Total amount
₹62,000.00
Simple interest
₹12,000.00
Principal
₹50,000
Annual rate
12%
  • Principal (81%)
  • Interest (19%)

Simple interest = P × R × T ÷ 100, where R is the yearly rate and T is the time in years.

How to use Simple Interest Calculator

  1. Enter the principal amount.
  2. Enter the interest rate and choose whether it is per year or per month.
  3. Enter the time and its unit.
  4. See the interest and total amount.

Frequently asked questions

What is the simple interest formula?

Simple interest = P × R × T ÷ 100, where P is the principal, R is the yearly rate in percent and T is the time in years.

What does “2 rupees interest” mean?

In many parts of India, “2 rupees interest” means ₹2 per ₹100 per month, which is 2% a month or 24% a year. Choose “Month” as the rate period and enter 2.

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