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Simple Interest Calculator

Calculate simple interest on loans, investments, and savings with step-by-step solutions. Instant results for interest and total amount.

Simple Interest Calculator
I = P × R × T
Where:
I = Interest P = Principal R = Rate (%) T = Time
Principal (P)
$
Initial amount
Rate (R)
%
Annual interest rate
Time (T)
Time period

Common Simple Interest Examples

$1,000 at 5% for 1 year
Interest: $50, Total: $1,050
$5,000 at 3.5% for 2 years
Interest: $350, Total: $5,350
$10,000 at 7% for 6 months
Interest: $350, Total: $10,350
$2,500 at 4.25% for 90 days
Interest: $26.20, Total: $2,526.20