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 one:
A) 277
B) 266
C) 321
D) 500
E) 782
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?