How to calculate Simple Interest in Excel

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Calculating Simple Interest is an first-class method to judge your savings in accelerate. However, calculating it for a range of interests and principal sums could be complex. This is where Excel comes to assist. If you wish to calculate Simple Interest in Microsoft Excel, please read through this article.

How to calculate Simple Interest in Excel

In case of Simple Involvement, the formula is:

Simple Interest = Master * Rate of Interest (almanac) * Time Period (almanac)

Thus, the formula for finding Simple Interest in Excel becomes:

=<cell with master value>*<cell with rate of involvement>*<cell with fourth dimension period>

Where,

<jail cell with principal value> is the cell number of the cell containing the principal amount.
<cell with rate of involvement> is the cell number of the cell with the charge per unit of involvement.
<prison cell with time flow> is the time menses of the eolith in years.

It should be noted that the rate of interest is in percentage. Y'all need to add the per centum symbol later on mentioning the rate. Not doing and then will create a figure where the Simple Interest attained would be 100 times the correct value.

Besides, the currency of the principal value could be added from the Home tab.

Eg. Allow us assume that the principal values are in column A from jail cell A3 to A11, rate of interest values are in column B from cell B3 to B11, and the values of time menses are in column C from jail cell C3 to C11. The values of simple interest are needed in cavalcade D from D3 to D11. The formula for unproblematic interest in D3 would become:

=A3*B3*C3

Enter this formula in jail cell D3 so employ the Fill part to carry it till prison cell D11. To do so, click anywhere outside cell D3 and and so back on cell D3. And so, you would notice a piddling dot at the right-bottom corner of cell D3.

Hope it helps!

Read adjacent: Calculate Weight to Tiptop ratio and BMI in Excel using this BMI calculation formula.

Karan Khanna is a passionate Windows user who loves troubleshooting Windows 11/10 problems in specific and writing about Microsoft technologies in general.