How to Calculate Simple Interest?
Simple Interest calculator uses Simple Interest = (Principal Amount of Simple Interest*Annual Rate of Simple Interest*Time Period of Simple Interest)/100 to calculate the Simple Interest, Simple Interest formula is defined as the extra amount gained/paid on the principal amount for the time period at a fixed rate of interest. Simple Interest is denoted by SI_{Annual} symbol.
How to calculate Simple Interest using this online calculator? To use this online calculator for Simple Interest, enter Principal Amount of Simple Interest (P_{Annual}), Annual Rate of Simple Interest (r_{Annual}) & Time Period of Simple Interest (t_{Annual}) and hit the calculate button. Here is how the Simple Interest calculation can be explained with given input values -> 200 = (1000*10*63113904)/100.