Online Calculators & Tools




Simple interest calculator with Definition



Select currency:      
 
Principal amount: $  
 
Annual interest rate:   % per year
 
Period:          
 
   
 
Interest amount: $    
 
Total amount: $    



What is Simple Interest?

The rate at which you borrow or lend money is called the simple interest. If a borrower takes money from a lender, an extra amount of money is paid back to the lender. The borrowed money which is given for a specific period is called the principal. The extra amount which is paid back to the lender for using the money is called the interest.