| Loan Amount | £200.00 |
| Start Date | 05/06/2026 |
| Duration | 6 months |
| Finish Date | 05/12/2026 |
| Total Days | 183 days |
| Monthly Rate | 12% |
| Total Interest | £144.00 |
| Total Repayment | £344.00 |
| APR | 195.84% |
Step 1: Monthly interest amount
£200.00 × 12% = £24.00 per month
Step 2: Duration in months
6 months
Step 3: Total interest
£24.00 × 6 months = £144.00
Step 4: Total repayment
£200.00 + £144.00 = £344.00
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)
£144.00 ÷ £200.00 = 0.72000000
Step 2: 1 + C/P
1 + 0.72000000 = 1.72000000
Step 3: t (Duration in years)
6 months ÷ 12 = 0.50000000 years
Step 4: 1/t
1 ÷ 0.50000000 = 2.00000000
Step 5: (1 + C/P)1/t
1.720000002.00000000 = 2.95840000
Step 6: APR
100 × (2.95840000 − 1) = 195.84%