Loan Details
Formulas Used
Simple Interest
SI = (P × R × T) / 100
Amount = P + SI
Where P = Principal, R = Rate %, T = Time
Compound Interest
A = P(1 + R/100)^T
CI = A - P
Where A = Final Amount, P = Principal, R = Rate %, T = Time
Common Scenarios
Fixed Deposit
₹1L, 8%, 5 yrs
Savings Plan
₹5L, 7%, 10 yrs
Bond Investment
₹10L, 9%, 3 yrs
Short Term
₹50K, 12%, 2 yrs