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Simple Interest Calculator

Interest & Savings

Quickly calculate simple interest earned or owed on a principal amount over a given period at a fixed interest rate.

$
8%
0.1%50%
3 yrs
0.5 yrs30 yrs

Simple Interest Result

Total interest earned

$2,400.00

over 3 years

Total amount (P + I)

$12,400.00

Principal

$10,000.00

Rate applied

8%

Interest breakdown

Per year$800.00
Per month$66.67
Per day$2.19
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Simple interest formula

Interest = Principal × Rate × Time. Unlike compound interest, simple interest is calculated only on the original principal — it does not grow on accumulated interest.