Simple and compound interest
Both formulas from principal, rate, and time you enter.
What this tool does
The interest calculator shows simple and compound interest from the same principal, annual rate, and time in years. Simple interest is principal times rate times time, divided by 100. Compound interest is principal times (1 + rate/100/n) to the power of n times years, minus principal, where n is the compounds per year you enter. If you leave compounds blank or at zero, the formula uses 1, which is annual compounding. The tool does not know a savings-account rate, a fixed-deposit rate, or a tax on the interest. Both figures are rounded to two decimal places. They are the formulas, not a bank statement. The banking quiz on this hub says the same thing: read the account terms, because this site does not publish a market rate.
How to use it
Enter principal, the annual percent, and the years. Enter compounds per year as 1, 2, 4, or 12 if you know how the product compounds. Read the two interest figures, not two maturity amounts. Add the principal yourself if you want the maturity value. Do not compare the result with a rate you saw in an advertisement unless you typed that rate.
Worked example
₹1,00,000 at 8 percent for 3 years. Simple interest is ₹24,000. Compound interest with 4 compounds a year is ₹26,824.18. Quarterly compounding is the only reason those two differ. The same inputs with 1 compound a year would move the compound figure, not the simple one. The calculator does not withhold tax. The jobs link on this page searches HiringBuddy for published roles matching “bank”. An empty list means nothing published matched. It is not a comment on the wider market. A signed-in candidate can save the attempt on their profile. Saving is not an application, and it does not show the attempt to an employer. Employers see people who apply to their own jobs.
Questions
- What is n?
- Compounds per year. 4 means quarterly. 1 means annual. A blank is treated as 1.
- Is the result the maturity amount?
- No. Both lines are interest only. Add principal if you want the closing amount.
- Does it use today's deposit rates?
- No. It uses the percent you type.