Interest Rate calculator -Loan Interest rate calculator

Interest Rate Calculator

Loan Amount: Loan Tenure (months): Monthly Installment:

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Interest Rate Calculator
An interest rate calculator helps you determine the interest amount and total returns on your investment or loan based on the principal, rate, and time. You can use it by entering these values to calculate simple or compound interest quickly.

Benefits of Interest Rate Calculator

• Saves time with quick calculations.
• Helps compare different interest rates for better financial decisions.
• Reduces the chances of manual errors.

Example of Interest Rate Calculation

Suppose you invest ₹50,000 at a 7% annual simple interest rate for 3 years:

Simple Interest (SI) = (P × R × T) / 100
SI = (50,000 × 7 × 3) / 100 = ₹10,500

The interest earned will be ₹10,500, and the total amount will be ₹60,500 after 3 years.