| Loan Amount | £381.00 |
| Start Date | 14/06/2026 |
| Duration | 6 months |
| Finish Date | 13/12/2026 |
| Total Days | 182 days (1 day reduced) |
| Monthly Rate | 10.49% |
| Total Interest | £238.49 |
| Total Repayment | £619.49 |
| APR | 165.79% |
Step 1: Monthly interest amount
£381.00 × 10.49% = £39.97 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£39.97 × 5.97 months = £238.49
Step 4: Total repayment
£381.00 + £238.49 = £619.49
APR = 100 × { (1 + C/P)1/t − 1 }
C = Total Interest • P = Loan Amount • t = Duration in Years
Step 1: C / P (Total Interest ÷ Loan Amount)
£238.49 ÷ £381.00 = 0.62595801
Step 2: 1 + C/P
1 + 0.62595801 = 1.62595801
Step 3: t (Duration in years)
5.97 months ÷ 12 = 0.49726565 years
Step 4: 1/t
1 ÷ 0.49726565 = 2.01099753
Step 5: (1 + C/P)1/t
1.625958012.01099753 = 2.65791036
Step 6: APR
100 × (2.65791036 − 1) = 165.79%