Simple Interest Calculator

Calculate simple interest and total amount using principal, annual rate, and time period. Free, instant, no signup.

%
years
Formula: I = P × r × t
  • I = interest
  • P = principal
  • r = annual rate (as decimal)
  • t = time in years

How to use the Simple Interest Calculator

  1. Enter your values. Fill in the fields with your numbers.
  2. Calculate. Press Calculate to run the simple interest calculator.
  3. Use the result. Copy the result or try a related tool next.

Why use our Simple Interest Calculator

Instant results. Enter your figures and the simple interest calculator returns an answer in seconds.
Free & private. Runs in your browser — no signup, and nothing is sent to a server.
Accurate. Uses standard formulas so you can rely on the numbers.

Free to use — premium coming soon

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About the Simple Interest Calculator

The Simple Interest Calculator works out the interest charged or earned on a fixed principal that never compounds. You enter three numbers: the principal (the starting amount), the annual interest rate, and the time period, and it returns the interest and the total amount you will repay or receive. Because the interest is always applied to the original principal and never to interest already accrued, the result grows in a perfectly straight line. That predictability is exactly why simple interest is used for products like short-term personal loans, many car loans, gold loans, and promissory notes where the lender wants a transparent, easy-to-verify figure.

Reach for this tool whenever you need a clean, no-frills answer rather than the snowballing growth of compounding. Typical moments: estimating the flat interest on a car or personal loan before you sign, checking the payout on a short fixed deposit or Treasury bill, working out what a friendly loan between people should cost, or doing homework where the textbook formula is SI = P x R x T. It is also handy as a benchmark: by comparing the simple-interest figure against a compound figure for the same principal and rate, you can see precisely how much extra compounding adds over the term.

Mechanically the calculator applies the formula SI = (P x R x T) / 100 when the rate is entered as a percentage, then adds the principal back to give the accrued total A = P(1 + rt). Time can be expressed in years, months, or days; months are divided by 12 and days by the year basis you choose. Day-based interest depends on convention: most consumer products use Actual/365, while commercial lenders often use a 360-day banker's year, which produces a slightly higher daily charge because the same rate is spread over fewer days. Picking the basis your lender actually uses is what makes the estimate match the real contract.

Every calculation runs entirely in your browser, so the principal, rate, and term you type are never uploaded, stored, or shared, you can use it for sensitive loan numbers with no privacy worry. The math itself is exact for genuine simple-interest products, but treat any figure as an estimate for amortized loans: most real car and personal loans charge simple interest on a declining balance with monthly payments, so the flat total here will run higher than an amortized schedule. Always confirm the rate type, the day-count basis, and any fees against your loan agreement before relying on a number.

Frequently asked questions

What is the formula this calculator uses?

It uses SI = (P x R x T) / 100, where P is the principal, R is the annual rate as a percentage, and T is the time in years. To get the total you owe or earn, it adds the principal back: A = P(1 + rt).

How do I enter a term that is in months or days?

Convert it to years for the formula: divide months by 12 and days by your chosen year basis (365 or 360). The calculator handles this for you when you select months or days as the time unit.

What is the difference between simple and compound interest?

Simple interest is always charged on the original principal only, so it grows in a straight line. Compound interest adds earned interest back to the balance and charges interest on that too, so it grows faster over time. For the same rate and term, the compound total is always equal to or larger than the simple total.

Do car loans really use simple interest?

Most auto loans use simple interest, but on a declining balance with monthly payments, so interest is recalculated each period on what you still owe. This calculator gives the flat simple-interest total on a fixed principal, which is a useful estimate but will be higher than an amortized schedule where the principal shrinks each month.

Why should I pick a 360-day or 365-day basis?

The basis decides how a daily rate is worked out. Actual/365 is standard for most consumer savings and loans, while a 360-day banker's year is common in commercial lending and charges slightly more interest per year. Match the basis to whatever your lender states in the contract for an accurate figure.

From our blog

How to Measure a Room and Buy the Right Amount of Paint

By the Super Simple Digital Tools Team · Updated June 2026

Most paint mistakes happen at the measuring stage, not the painting stage. The good news is that a room is just a set of rectangles, and you only need a tape measure and a moment of arithmetic to get a reliable number. Start by measuring the length of each wall along the floor and adding them together to get the perimeter, then measure the height from floor to ceiling. Multiplying perimeter by height gives you the gross wall area, the single most important figure in any paint estimate.

Next, take out the parts you will not be painting with wall color. Doors and windows are the big subtractions: figure about 20 square feet for a standard door and 10 square feet for an average window. If a wall is mostly glass or has built-in cabinetry, measure those openings directly instead of using the rule of thumb. Subtracting them from your gross area gives the paintable area, which is what actually consumes paint. Skipping this step is the most common reason people end up with extra cans they never open.

Now turn area into cans. Divide your paintable area by a realistic coverage rate of roughly 350 square feet per gallon, then multiply by the number of coats you plan to apply. Two coats is the safe default for walls, especially over a new color. If the math gives you, say, 1.6 gallons for two coats, you buy two gallons, because cans come in whole sizes and rounding down leaves you stranded. A spare quart at the end is normal and worth keeping.

Primer deserves its own quick calculation rather than being lumped in with paint. You only need it in specific situations: bare drywall, wood, or plaster; covering stains or repairs; or making a drastic color change such as white over a deep red. Primer spreads thinner than finish paint, covering closer to 200 to 300 square feet per gallon, so use that lower rate for its estimate. One coat of primer is usually enough, after which your finish coats will cover more evenly and often in fewer passes.

A few real-world factors will nudge your final number, so build in a small cushion. Heavily textured walls, fresh patches, and flat or matte finishes tend to drink more paint than smooth, glossy surfaces. Application method matters too: rollers and brushes are efficient, while sprayers can lay paint on thicker and use more. When your estimate sits right on the line between two and three gallons, round up. Finishing the job in one shopping trip, with a touch-up reserve, is almost always worth the price of an extra can.

  • Measure each wall separately and add them up rather than eyeballing the room as one number; alcoves and odd angles add area you would otherwise miss.
  • Plan for two finish coats on walls by default, and only assume one coat if you are repainting the exact same color over a sound surface.
  • Estimate primer with the lower 200 to 300 square feet per gallon rate, since it spreads thinner than topcoat paint and is easy to underbuy.
  • Buy all your paint for one room in a single batch with the same tint code, so slight color variation between cans never shows on the wall.

Read the full guide →

Tool by the Super Simple Digital Tools Team. Reviewed by our editorial team. Free to use, no signup required.

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