What sum of money will produce Rs.60 as simple interest in 4 years at 3 1/2 percent? Choose the correct choice from the following options.
A) 337  B) 429  C) 266  D) 288  E) 211

Rationale: "60 = ( p * 4 * 7 / 2 ) / 100 p = 429 answer : b"
Answer: B