question_answer

50,000 shares of Rs.10 each were issued for public subscription at a premium of 10%. Full amount was payable on application. Applications were received for 75,000 shares and the Board decided to allot the shares on prorata basis. How much amount is to be refunded to the applicants?

A) Nil

B) 2,00,000

C) 2,50,000

D) 2,75,000