The total repayment of principal and interest is 24 installments *857 yuan, totaling 20,568 yuan.

Interest = paid amount-principal =20568- 12000=8568 yuan.

Interest rate = interest/principal = 8568/12000 = 71.4%.

Extended data:

Private individual lending activities must strictly abide by the relevant provisions of national laws and administrative regulations, and follow the principles of voluntary mutual assistance, honesty and credit. In private individual lending, the lender's funds must be its own monetary funds belonging to its legitimate income, and it is forbidden to absorb other people's funds and transfer them to others.

Folk usury refers to the lending behavior with an annual interest rate higher than 24% without banking financial institutions.

According to Article 26 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases:

The people's court shall support the lender's request to the borrower to pay interest at the agreed interest rate if the interest rate agreed by the borrower and the borrower does not exceed the annual interest rate of 24%.

The interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement in excess is invalid. The people's court shall support the borrower's request to the lender to return the interest paid in excess of 36% of the annual interest rate.

Alashan financial work office-notice on banning underground money houses and cracking down on usury

Shenqiu People's Court of Henan Province-Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases