Simple Interest Calculator South Africa
Simple Interest Calculator
This calculator helps you find out how much interest you’ll earn on your money over time. Just enter the principal amount, the interest rate, and the time period, then click ‘Calculate’. You’ll get the interest amount along with a visual breakdown of your principal and interest.
How to Use Simple Interest Calculator
- Principal (R): Enter the amount of money you’re starting with.
- Interest Rate (%): Input the interest rate, as a percentage, you expect to earn.
- Time (years): Specify the duration for which you’ll keep your money invested.
After entering these details, hit the ‘Calculate’ button to see your results.
Examples:
- If you have R1000 as the principal, an interest rate of 5%, and you keep it for 2 years:
- Principal: R1000
- Interest Rate: 5%
- Time: 2 years
- Result: The interest amount is R100.
- Let’s say you invest R5000 with an interest rate of 8% for 3 years:
- Principal: R5000
- Interest Rate: 8%
- Time: 3 years
- Result: The interest amount is R1200.
- If you start with R2000 and earn an interest rate of 10% for 5 years:
- Principal: R2000
- Interest Rate: 10%
- Time: 5 years
- Result: The interest amount is R1000.
Note: The interest amount is calculated using the simple interest formula: Interest = (Principal * Interest Rate * Time) / 100.
Try different combinations to see how your money grows over time!