Free Simple Interest Calculator
Calculate simple interest on loans or investments. Find the interest amount and total value using principal, rate, and time.
USD
%
years
Total Interest
$1,500.00
Total Value$11,500.00
Total Interest vs Time Period
How to Calculate Simple Interest
Simple interest is calculated only on the original principal amount.
Formula
I = P * r * t
Where:
Example Calculation
You deposit $10,000 at 5% simple interest for 3 years.
- 01Interest = $10,000 * 0.05 * 3 = $1,500
- 02Total value = $10,000 + $1,500 = $11,500
Example Calculations
How much interest on $5,000 at 8% for 3 years?
$1,200
- 1.Principal (P): $5,000
- 2.Rate (r): 8% = 0.08
- 3.Time (t): 3 years
- 4.Interest = P × r × t = 5,000 × 0.08 × 3 = $1,200
How much interest on $10,000 at 5% for 2 years?
$1,000
- 1.Principal: $10,000
- 2.Rate: 5% = 0.05
- 3.Time: 2 years
- 4.Interest = 10,000 × 0.05 × 2 = $1,000
How much interest on $20,000 at 4% for 5 years?
$4,000
- 1.Principal: $20,000
- 2.Rate: 4% = 0.04
- 3.Time: 5 years
- 4.Interest = 20,000 × 0.04 × 5 = $4,000
- 5.Total amount: $20,000 + $4,000 = $24,000
Frequently Asked Questions
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