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Where part of the year is involved in the period for which interest is to be computed, interest computed for any amount @ 15 percent per year is not the same as interest computed @ 1.25 percent per month.
COMPUTATION OF SIMPLE INTEREST
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Last date to pay
Select Day & Month and enter Year
Payment Date
Select Day & Month and enter Year
Select Day
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Select Month
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Select Day
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Select Month
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Principal Amount
Interest Rate %
Select Interest Rate Category
Percent per year
Percent per month
Percent per day
User City
User Profession
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Chartered Accountant
Manufacturer
Trader
Service Provider
Finance Manager
Accounts Manager
Other
Please do not fill in entry boxes below. These entry boxes are meant for results.
Conversion of Period in Days, Months & Years
Duration of Total Period In Days
In Months
In Years
Amount of Interest & Total Amount including Amount of Interest
Amount of Interest
Total Amount including Interest
NOTES
1. Leap Year, if any, has been taken into account.
2. Number of Months has been calculated as calendar months.
3. Number of months or years have been computed upto three decimal places.