Simple Interest Calculator: Aptitude Test

1 What is Simple interest?

The percentage of the principal that is paid over a certain period of time is called the interest rate. Interest is typically calculated over principal amount (Base Amount).

Simple Interest is considered when time period is generally less than a year. Simple interest is calculated only on principal amount and Simple interest formula is as follows

$I = \frac{( P × n × r )}{100}$
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest

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2 How to calculate Interest earned?

$I = \frac{( P × n × r )}{100}$
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest

3 How to calculate Principal Amount?

$P = \frac{( I × 100 )}{( n × r )}$
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest

4 How to calculate Rate of Interest?

$r = \frac{( I × 100 )}{( n × P )}$
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest

5 How to calculate time period?

$n = \frac{( I × 100 )}{( P × r )}$
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest

6 How to calculate Amount accrued i.e. principal + interest earned?

$I = P \times ( 1 + \frac{( n × r )}{100})$
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest

Simple Interest Calculator

Calculate

	Please enter Principal Amount
Interest Amount (I)	Please enter Interest Amount
Period (n)	Please enter Time Period
Rate of Interest (r) (% per year)	Please enter Time Period

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