Simple Interest
Noun
US
/ˈsɪmpl ˈɪntrəst/
UK
/ˈsɪmpl ˈɪntrəst/
US
/ˈsɪmpl ˈɪntrəst/
UK
/ˈsɪmpl ˈɪntrəst/
Interest calculated only on the original principal amount.
Simple Interest plays a key role in banking operations and personal borrowing decisions.
Also known as: SI. Closely related to Compound Interest, Principal. Contrasts with Compound Interest.
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Simple Interest - key concept in Banking & Interest.
Short-term loans; Personal loans; Trade credit
Applied in Banking & Interest contexts: Short-term loans; Personal loans