Simple Interest Calculator
Simple interest on savings and loans
Interest earned
$1,500.00
($10,000 x 5% x 3 yr) / 100 = $1,500.00
Principal
$10,000.00
Total amount
$11,500.00
Simple interest: I = (P x R x T) / 100. Interest is not compounded. All math happens in your browser; nothing is sent or stored.
About this tool
Simple interest is the most straightforward way interest works: a fixed percentage of the principal, multiplied by time. No compounding, no surprises.
Use this calculator for quick estimates on short-term loans or basic savings projections. For investments where interest compounds, switch to the compound interest calculator to see the difference growth makes.
How to use the simple interest calculator
- 1Enter the principal amount.
- 2Set the annual rate and time period.
- 3See interest and total amount instantly.
Frequently asked questions
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