Simple Interest Definition The Simple Interest Calculator makes it easy to calculate simple interest. The definition of simple interest is interest calculated without the effect of compounding (as with the Compound Interest Calculator). Try out the free online simple interest calculator by entering in the amount of money and the interest rate now!
How to Calculate Simple Interest Let's be honest - sometimes the best simple interest calculator is the one that is easy to use and doesn't require us to even know what the simple interest formula is in the first place! But if you want to know the exact formula for calculating simple interest then please check out the "Formula" box above.