Simple Interest Calculator
Calculate simple interest using SI = P × R × T / 100. Find total amount, daily and monthly interest.
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Simple vs Compound Interest
| Feature | Simple Interest | Compound Interest |
|---|---|---|
| Formula | SI = P × R × T / 100 | A = P(1 + r/n)^(nt) |
| Growth Type | Linear | Exponential |
| Interest On | Principal only | Principal + accumulated interest |
| Better For | Borrowers | Savers & investors |
| Common Use | Personal loans, auto | Savings accounts, mortgages |
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