A person lent a certain sum of money at 6% per annum at simple interest and in 8 years the interest amounted to $520 less than the sum lent. What was the sum lent? Pick:	A) 800	B) 1000	C) 1200	D) 1400	E) 1600
P - 520 = (P*6*8)/100   P = 1000   The answer is 1000.
<result>B</result>
A person lent a certain sum of money at 6% per annum at simple interest and in 8 years the interest amounted to $520 less than the sum lent. What was the sum lent?