question_answer

Nanak Ltd. invited application for 50,000 equity shares of Rs.10 each at a premium of 60%. Whole amount was payable on application. The issue was over-subscribed by 2.5 times of the issue. 25,000 applications were rejected and money was refunded with a letter of regret. Total amount refunded by the company _____

A) 2,50,000

B) 4,00,000 

C) 12,00,000

D) 7,50,000