💰 Simple Interest Calculator
Calculate simple interest on your principal amount
📋 Interest Summary
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Enter details and click Calculate
💡 Understanding Simple Interest
- ✓ Interest calculated on principal only
- ✓ Fixed interest amount each period
- ✓ No compounding effect
- ✓ Easy to calculate and understand
Formula: Simple Interest = P × R × T / 100
Pro Tip: Simple interest is commonly used for short-term loans, car loans, and some personal loans.