23 March 2013

Simple Interest Calculator

Simple Interest Calculator. online simple interest rate calculator tool for India to calculate how much interest (amount) will be gained after a certain period of time.

Formula:-
Simple Interest (SI) = P*N*(R/100)

Where,
  • P = Principal Amount
  • N = Time Period
  • R = Rate of Interest

    • Calculation of Simple Interest:-

    Enter Principal Amount (P): ₹
    Enter Time Period (N): Years
    Enter Rate of interest (R): %
    Simple Interest (SI): ₹

    Example Problem:-
    Calculate interest rate: If a person deposits has Rs.5000 in a Bank for 8 years at 6% interest.

    Formula:-
    Simple Interest (SI) = P*N*(R/100)

    Where,   
    P = Rs 5000
    N = 8 years
    R = 6%

    Simple Interest (SI) = 5000*8*(6/100)
                              SI = Rs 2400
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