3-year deposit
Input: ₹10,000 at 5% for 3 years
Output: ₹1,500 interest
10,000 × 5 × 3 ÷ 100 = ₹1,500; total ₹11,500.
Simple interest calculator
Calculate simple interest and the total amount from principal, annual rate, and time in years.
- Interest
- -
- Total amount
- -
Formula and algorithm
- Simple interest = P × R × T ÷ 100
- P = principal, R = annual rate percent, T = time in years.
- Total amount = principal + interest.
Worked examples
One year
Input: ₹10,000 at 5% for 1 year
Output: ₹500 interest
10,000 × 5 × 1 ÷ 100 = ₹500.
Total payable
Input: ₹10,000 at 5% for 3 years
Output: ₹11,500 total
Principal ₹10,000 + interest ₹1,500.
FAQ
When is simple interest used?
For some short-term and car loans, and school problems. Most savings use compound interest.
Does the interest change each year?
No. Simple interest is the same every year because it is only on the principal.
What is T if I have months?
Convert months to years (e.g. 6 months = 0.5) before entering T.
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Updated: June 7, 2026