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?	Choose the correct choice from the following answers:
A) Rs.400
B) Rs.450
C) Rs.550
D) Rs.500
E) Rs.650
Explanation:   P - 340 = (P*4*8)/100   P = 500   ANSWER IS Rs.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?