How much in winnings will I get back for my Grand National each-way bet?

Question

I placed £1 each way on Philson Run which came in fourth so I have definately won something this year!

I don't really understand how the bet pays out. It had odds of 100/1, but I think you only get a quarter of the odds for an each way place (25/1), so does that mean I'll get £26 back, or is my maths hopelessly to pot? Any professional gamblers out there who can tell me how much I'll get back on my relatively modest stake?

Answer 1

£21.00 mate. 5th odds