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Simple Interest Calculator
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 Simple interest is calculated mainly only on the principal amount or on that portion of the principal amount that remains unpaid.

Steps for Calculating Simple Interest

Step 1 :

Choose the formula for calculating simple interest,rate,time and principal.As you see below.

Simple interest (S I) = $\frac{P * R * T}{100}$.

Principal (P) = $\frac{100 * I}{R * T}$

Rate (R) = $\frac{100 * I}{P * T}$

Time (T) = $\frac{100 * I}{P * R}$

Step 2 :

Where : P = Principal Amount.

R = Interest Rate.

T = Time Periods (in year).

I = Simple Intrest .

Step 3 :

Put the values in the formula and simplify it further.

Examples for Simple Interest Calculator

1. Find the Simple interest . If Principal amount Rs. 3000 at the rate of 5% for 3 years.

Step 1 :

Given:

P = 3000 rs.

R = 5 %

T = 3 years.

Step 2 :

Put the values in the formula,

SI = $\frac{P * R * T}{100}$.

SI = $\frac{3000 * 5 * 3}{100}$.

Step 3 :

Multiply the values,

SI = $\frac{3000 * 15}{100}$.

SI = $\frac{45000}{100}$.

Simple Interest = 450.

2. Find the principal value, when Time = 2 years, Interest = $800 and Rate = 5 % per Annam? Step 1 : Given: Time = 2 years. Interest =$ 800.

Rate = 5 % .

Principal = ?

Step 2 :

Put the values in the formula,

Principal (P)= $\frac{100 * I}{R * T}$

Principal (P)= $\frac{100 * 800}{5 * 2}$.

Step 3 :

Multiply the values,

Principal (P)= $\frac{8000}{10}$.