interest payable only on the principal; interest that is not compounded.
Origin of simple interest
First recorded in 1790–1800
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for simple interest
interest calculated or paid on the principal aloneCompare compound interest
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Science definitions for simple interest
Interest computed only on the original principal and not on the sum of the principal plus accrued interest. The amount of simple interest remains constant. Compare compound interest.
The American Heritage® Science Dictionary Copyright © 2011. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.