question_answer

Vinod Limited purchased machinery for Rs.30,00,000 from Suraj Limited. Half of the amount was paid by accepting a 'Bill of Exchange' drawn by Suraj Limited, payable after 3 months. The balance was paid by issue of Equity Shares of Rs.10 each at a premium of 25%. How many shares are to be issued?

A) 1,00,000 Shares

B) 1,20,000 Shares

C) 1,50,000 Shares

D) 1,80,000 Shares