Compound Interest Calculator
See how a principal grows with yearly, quarterly, monthly or daily compounding.
Simple Interest Calculator
Enter the principal, the yearly rate and the time to get the interest and the total.
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How to use it
- Enter the principal and the yearly interest rate.
- Enter the time and choose years, months or days.
- Read the interest, the total and the working.
Questions people ask
What is the simple interest formula?
Simple interest = Principal x Rate x Time / 100, with the rate in percent a year and the time in years. Rs 1,00,000 at 9% for 3 years earns Rs 27,000.
How are months and days turned into years?
Months are divided by 12 and days by 365, so 6 months is 0.5 year and 73 days is 0.2 year.
When should I use compound instead?
Savings accounts, fixed deposits, mutual funds and most loans compound. Simple interest is used for some short private loans, gold loans and school problems.
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