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 one.
A) 228  B) 278  C) 289  D) 500  E) 450

Rationale: "p - 306 = ( p * 4 * 8 ) / 100 p = 450 answer : e"
Answer: E