A person lent a certain sum of money at 4% per annum at simple interest and in

Question

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?

Options:

A . Rs.400

B . Rs.450

C . Rs.550

D . Rs.500

Answer: Option D

P - 340 = (P*4*8)/100

P = 500

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