
Calculate Simple Interest (S.I.) of any amount.
Input the amount, rate, and the years for which you want the interest to be generated.
Input the amount, rate, and the years for which you want the interest to be generated.
• The method is simple to find out the Simple Interest of any amount, just write the Amount, for example: 10,000 and put a × (multiplication sign) now write Rate (at which you want to calculate the S.I.) here for example we are taking 2% (percent. Note: rate of interest are decided in percentages, which is denoted with % sign), now you need to write × (multiplication sign) and then the year (for which you want to calculate the S.I.) for example: 1, the final thing you'll need to do is add a / (division sign) and write down 100 after it.
Now multiply all three= Amount x Rate x Time (year), and then divide the result with 100.
• Total Interest = 10000 × 2 × 1 / 100
• Now let's do the math: here: 10,000 x 2 = 20,000
20,000 x 1 = 20,000
20,000/100 = 200
• Easy way of deviding 20,000 with 100 is = remove zeros you see in 100 from the 20,000, this means the last two zeros from 20,000 will be removed and the quotient you will get will be 200 of the devision we did in this example.
Simple interest is calculated with the following formula: S.I. = P × R × T / 100, where P = Principal, R = Rate of Interest, and T = Time, usually calculated as the number of years. and finally /100.