arrow
arrow
arrow
Anthony Ltd. invited applications for 2,00,000 shares of ₹10 each payable ₹3 on application, ₹5 on allotment and balance on call. Public had applied f
Question

Anthony Ltd. invited applications for 2,00,000 shares of ₹10 each payable ₹3 on application, ₹5 on allotment and balance on call. Public had applied for 3,20,000 shares out of which applications for 70,000 shares were rejected and remaining were allotted on pro -rata basis. Determine the amount to be received by company with allotment if Mohan holding 10,000 shares paid all his dues along with allotment.

A.

₹8,70,000

B.

₹10,20,000

C.

₹8, 50,000

D.

₹10,00,000

Correct option is A

Amount due on allotment = 2,00,000 × 5 – 50,000 × 3 = ₹8,50,000
Amount received on allotment = 8,50,000 + 10,000 × 2 (Received in advance from Mohan) = ₹8,70,000

Free Tests

Free
Must Attempt

CUET 2025 English Language Mock 01

languageIcon English
  • pdpQsnIcon50 Questions
  • pdpsheetsIcon200 Marks
  • timerIcon45 Mins
languageIcon English