Calculate simple interest

Invested for | Years: 1 Months: 0 Days: 0 |

Rate | 10% per annum |

Principal | 1,000.00 |

Interest | 100.00 |

Amount | 1,100.00 |

Simple Interest is the interest that is paid on the borrowed (lent or deposited) money for a specified time period.

Simple Interest is not compounded.

Formula

SI = (P*R*T)/100

Where,

SI = Simple Interest

P = Principal

R = Interest Rate

T = Time

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