Vinod Limited applications for 60,000 shares of Rs.10 each at a premium of 40%, payable as follows : |
On Application Rs.5 (including premium Rs.1) |
On Allotment...........................................................Rs.4 (including premium Rs.1) |
On First Call............................................................Rs.3 (including premium Rs.1) |
On Second & Final Call ..........................................Rs.2 (including premium Rs.1) |
Applications were received for 96,000 shares out of which 26,000 applications were rejected and pro-rata allotment was made to remaining applicants. |
Ram to whom 1200 shares were allotted, failed to pay allotment money and his shares were forfeited immediately after allotment. |
Mohan, who applied for 2100 shares failed to pay two calls and his shares were forfeited. |
Sohan, who was allotted 600 shares did not pay the second call. |
How many shares were allotted on Pro-rata basis? |
A) 60,000
B) 70,000
C) 80,000
D) 96,000
Correct Answer: A
Solution :
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