Simple & Compound Interest Calculator
Find simple interest and compound interest on any amount.
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Questions
What is simple interest?
Interest only on the first amount: amount × rate × years ÷ 100.
What is compound interest?
Interest on the amount and on the interest already added. It grows faster over time.
Which one do banks use?
FDs and RDs use compound interest (usually every 3 months). Many personal and gold loans quote simple interest.