Interest Rate Calculator: Things You Must Know!
Simple interest= (PxRxT) /100
Here, P stands for the Principal Amount, R stands for Rate of Interest and T stands for the Time period
|Mr Brajesh invests ₹1 lakh for a tenure of 5 years at a simple interest rate of 13%|
|Formula - (PxRxT)/100|
|Interest earned in 5 years will be
(1,00,000x13x5)/100 = ₹65,000
- Visit any preferred website and click on the simple interest rate calculator.
- Now enter the details as asked like tenure, interest rate, and the principal amount.
- After you submit, the calculator will show the result.
- It has all the setup done beforehand, you just need to enter the details.
- The result, as per your inputs, are accurate.
- You need not do any calculations.
- Calculate the interest without having to go anywhere. Do it from your comfort zone.
- Get instant results within a few clicks.
Compound Interest= P(1+R/100)t - P
Here, P stands for the Principal Amount
R stands for Rate of Interest and
T stands for the Time period
|Mr Suresh invests ₹1 lakh for a tenure of 5 years at a compound interest rate of 13%|
|Formula- P(1+R/100)t - P|
|Interest earned will be
1,00,000 (1+13/100) =₹ 1,84,243.52
- Visit the website and click on the compound interest calculator
- Enter the inputs.
- Submit and the result will be instantly shown on your screen.
- Enjoy the instant calculation within a few clicks.
- You just need an internet connection and enjoy calculation from your comfort zone.
- You will no longer have to do the math.
- ASBLI offers 100% free calculators.
- The result is accurate, as per your inputs provided.
Frequently Asked Questions on Interest Rate Calculator
So, the interest earned per month will be ₹1,666,66.