HOW TO USE OUR SIMPLE INTEREST CALCULATOR
Welcome to our Simple Interest Calculator—a user-friendly tool designed to help you determine the interest accrued on your investments or loans over a specified period. Here's a step-by-step guide on how to use this calculator effectively: IMAGE SOURCE CHAT GPT Understanding Simple Interest: Simple interest is calculated on the original principal amount throughout the investment or loan period. The formula to compute simple interest is: Simple Interest (SI) = P × R × T \text{Simple Interest (SI)} = P \times R \times T Simple Interest (SI) = P × R × T Where: P = Principal amount (initial sum of money) R = Annual interest rate (in decimal form) T = Time period (in years) To find the total amount (A) after interest, use: A = P + SI A = P + \text{SI} A = P + SI Using the Calculator: Principal Amount (P): Enter the initial sum of money you are investing or borrowing. Example: ₹10,000 ...