A person lent a certain sum of money at 4% per annum at simple interest and in 8 years the interest amounted to Rs.340 less than the sum lent. What was the sum lent?
Pick:
A) 288
B) 277
C) 299
D) 500
E) 278
P - 340 = (P*4*8)/100   P = 500   Answer:500
<result>D</result>
A person lent a certain sum of money at 4% per annum at simple interest and in 8 years the interest amounted to Rs.340 less than the sum lent. What was the sum lent?