Savings
Simple Interest Calculator
Simple interest is calculated only on the original principal — useful for short-term loans, bonds and back-of-envelope estimates.
£
%
Interest
£1,500.00
Total amount
£11,500.00
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How this simple interest calculator works
Multiply the principal by the annual rate (as a decimal) and by the number of years.
Add the result to the principal for the total amount due or owed.
I = P · r · t
Frequently asked questions
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