Calculating the percentage of loan interestForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Calculating the percentage of loan interestThis topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts October 4, 2016 at 10:42 am #342361 asikkaMemberTopics: 5Replies: 4☆I am stuck here. The question has this information In the Trial Balance as at 30/06/x7 I have the loan amount of 10,000 and Loan interest paid of 300.In the additional information it says Loan taken out on 1/7/x6The solution page gives the following Charge for the year 10,000×6% = 600 Amount paid as per trial balance = 300 Accrual required = 300Hence finance costs have been considered as 600 and interest accrual as 300I don’t understand how the 6% is calculated?? October 5, 2016 at 2:21 pm #342455 John MoffatKeymasterTopics: 57Replies: 54693☆☆☆☆☆There must be more information in the question other than what you have typed (either the rate of interest, or details of when interest is paid on the loan).AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In