What this tool does
When money is lent between people, shops or friends, interest is usually said as “₹2 per 100 per month”: for every ₹100 given, ₹2 is paid each month. This calculator turns that into the exact interest and the total to return, for any amount and any time, either between two dates or a number of months and days. Choose simple interest (sadharan byaj), where interest is counted only on the amount given, or compound interest (chakravarti byaj), where unpaid interest is added to the amount every year, 6 months or month.
How to use it
- Enter the amount given.
- Enter the rate: rupees per ₹100 every month, or % per year.
- Pick the dates, or type the months and days.
- Choose simple or compound and read the interest and total.
Why 123ToolBox
Popular ways to use it
Questions people ask
What does ₹2 per 100 interest mean?
For every ₹100 given, ₹2 interest is paid every month. That is 2% a month, or 24% a year. On ₹50,000 it is ₹1,000 every month.
How do I calculate interest from date to date?
Choose “Between two dates” and set the date the money was given and the date it is returned. The tool counts full months and the extra days.
How are the extra days counted?
A day is counted as 1/30 of a month, the way most private lenders count. 15 extra days is half a month of interest.
What is the difference between simple and compound interest?
Simple (sadharan) interest is counted only on the amount given. Compound (chakravarti) interest is added to the amount after each year, 6 months or month, so later interest is counted on the bigger amount.
How do I change ₹ per 100 into % per year?
Multiply by 12. ₹1 per 100 a month is 12% a year, ₹1.5 is 18%, ₹2 is 24% and ₹3 is 36%.
Are my numbers saved anywhere?
No. Everything is calculated on your phone and nothing is sent anywhere.