A fellow borrowed a certain sum of money at 4% per annum at simple interest and in 4 years the interest amounted to Rs.1260 less than the sum lent. What was the sum lent?
Select.
A) 1050
B) 1220
C) 1500
D) 1060
E) 1110
P - 1260 = (P*4*4)/100   P = 1500   Answer: 1500
<result>C</result>
A fellow borrowed a certain sum of money at 4% per annum at simple interest and in 4 years the interest amounted to Rs.1260 less than the sum lent. What was the sum lent?