SIMPLE INTEREST

interest that is not compounded, interest paid only on the original principal

For other senses of this word, see interest (disambiguation). Interest is a fee paid on borrowed assets. By far the most common form these assets are lent in is money, but other assets may be lent to the borrower, such as shares, consumer goods through hire purchase, major assets such as aircraft, and even entire factories in finance lease arrangements. In each case the interest is calculated upon the value of the assets in the same manner as upon money.
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Noun
1. interest paid on the principal alone
(hypernym) interest

Interest which is calculated as a simple percentage of the original principal amount. Compare to compound interest.