Interest Calculator

How to Use the Interest Calculator

1. Enter the Principal Amount in the first input field.
2. Enter the Interest Rate in the second input field (as a percentage).
3. Enter the Time Period in the third input field (in years).
4. Click the "Calculate" button to compute the Simple Interest.
5. The result will be displayed in the result section.
6. Click the "Reset" button to clear all input fields and reset the result.

Working Principle

The calculator uses the formula for simple interest:

Simple Interest (SI) = P × R × T / 100

Where:

• P = Principal Amount
• R = Interest Rate per annum
• T = Time Period in years

This formula calculates the interest earned or paid over a specific period of time at a given interest rate.