About This Converter
Calculate simple interest in Indian Rupees. Formula: SI = (P × R × T) / 100.
Frequently Asked Questions
What is the simple interest formula?
SI = (P × R × T) / 100, where P = Principal, R = Rate per annum, T = Time in years.
What is simple interest on ₹1 lakh at 10% for 3 years?
SI = (100000 × 10 × 3) / 100 = ₹30,000. Total = ₹1,30,000.
Difference between simple and compound interest?
Simple interest is calculated only on principal. Compound interest is calculated on principal plus accumulated interest.