A person lent a certain sum of money at 5% per annum at simple interest and in 8 years the interest amounted to $360 less than the sum lent. What was the sum lent? Choose the correct answer.
A) 540
B) 560
C) 580
D) 600
E) 680

Rationale: "p - 360 = ( p * 5 * 8 ) / 100 p = 600 the answer is d ."
Answer: D