what is simple interest₹100
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Simple Interest Calculation
Last Updated 31st Mar 2021
Simple interest is the method of calculating interest charged on the amount invested in a fixed deposit.
Understanding the Simple Interest Formula is essential to know about the basics of Finances.
Simple Interest is calculated on the principal amount on a daily/monthly/annual basis.
Principal Amount remains constant during the entire tenure on Simple Interest.
The formula for calculating Simple Interest is P x r x t ÷ 100, where P=Principal Amount, Rate of Interest & T= Time.
With a Simple Interest Calculator, you can calculate the interest without any error by saving time and efforts.
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