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, | |
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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