Simple Interest Calculator Days
Simple Interest Calculator Days helps to find final amount and days required for a given simple interest problem.
What is a Simple Interest Calculator Days?
A Simple Interest Calculator Days is an online tool which is used to find the simple interest for a given amount and for the required number of days. This calculator helps you to calculate faster and gives you the result within a few seconds.
Simple Interest Calculator Days
NOTE: Enter prinicipal amount up to 4 digits, rate of interest up to 3 digits, time in days up to 3 digits and enter positive numbers only.
How to Use Simple Interest Calculator Days?
Follow these steps which will help you to use the calculator.
- Step 1: Enter the principal amount, rate of interest, and the number of days in the respective input boxes.
- Step 2: Click on "Calculate" to find the simple interest for the given number of days.
- Step 3: Click on "Reset" to clear the field and enter the new values.
How to Find the Simple Interest for a Given Number of Days?
The simple interest for the given number of days can be calculated with the formula given below.
Simple Interest = P × n × r / 100 × 1/365
Here 'P' is the principal amount, 'n' is the number of days, and 'r' is the rate of interest per annum. The formula of simple interest is divided by 365 to obtain the rate of interest for one day.
Let us understand the calculation of simple interest for the required number of days, from the below-solved example.
Solved Examples on Simple Interest Calculator Days
Example 1:
Find the simple interest for 5 days for a principal amount of $ 2000. The rate of interest is 12% per annum.
Solution:
The given values are:
Principal Amount (P) = $ 2000
Rate of Interest(r) = 12%
Number of Days(n) = 5
We can apply the below formula for the calculation of simple interest.
Simple Interest = P × n × r/100 × 1/365
= 2000 × 5 × 12/100 × 1/365
= 20 × 1 × 12 × 1/73
= 240/73
= 3.2876
= 3.29
Therefore the interest for 5 days is $ 3.29.
Final amount after adding the simple interest is $2000 + $3.29 = $2003.29
Example 2:
Find the simple interest for 7 days for a principal amount of $ 5000. The rate of interest is 8% per annum.
Solution:
The given values are:
Principal Amount (P) = $ 5000
Rate of Interest(r) = 8%
Number of Days(n) = 7
We can apply the below formula for the calculation of simple interest.
Simple Interest = P × n × r/100 × 1/365
= 5000 × 7 × 8/100 × 1/365
= 280000/36500
= 7.67
Therefore the interest for 7 days is $ 7.67
Final amount after adding the simple interest is $5000 + $7.67 = $5007.67
Now, try the calculator to find the simple interest of the following quantities.
- Find the simple interest for an amount of $ 11000 for 15 days, for a rate of interest of 8%.
- Find the simple interest for an amount of $ 800 for 18 days, for a rate of interest of 21%.