A person lent a certain sum of money at 4% per annum at simple interest and in 8 years the interest amounted to Rs.306 less than the sum lent. What was the sum lent?
Choose the correct choice from the following options:
A) 228
B) 278
C) 289
D) 500
E) 450
P - 306 = (P*4*8)/100   P = 450   Answer: 450
<result>E</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.306 less than the sum lent. What was the sum lent?