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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