%
years
Simple interest$900.00
Total amount$5,900.00
Interest per year$300.00
Interest per month$25.00
Interest share of total15.3%
● calculated in 0.10 msruns in your browserupdated 07:35:31
Visualise
Amount by year
Breakdown
Interest by year
| Year | Interest so far | Total amount |
|---|---|---|
| Year 1 | $300.00 | $5,300.00 |
| Year 2 | $600.00 | $5,600.00 |
| Year 3 | $900.00 | $5,900.00 |
The maths
Formula
This is the exact calculation the tool runs.
I = P × R × T100
PPrincipal
RYearly rate in %
TTime in years
Practice
Worked examples
Click "Try it" to load an example into the tool.
Fixed deposit
Principal amount: 10000Yearly interest rate: 7 %Time: 2 years
$1,400.00
Short loan
Principal amount: 2000Yearly interest rate: 12 %Time: 1 years
$240.00
5-year bond
Principal amount: 50000Yearly interest rate: 4.5 %Time: 5 years
$11,250.00
Step by step
How to use the Simple Interest Calculator
Enter the principal
The amount you borrow or deposit.
Add the yearly rate
The flat rate per year, in percent.
Set the time
Enter years. Use 0.5 for six months.
Questions
Frequently asked questions
What is simple interest?
Interest charged only on the original amount, never on interest already earned.
How is it different from compound interest?
Compound interest also earns interest on past interest, so it grows faster over time.
How do I use months instead of years?
Divide the months by 12. For example, 18 months is 1.5 years.