| Vinod Ltd. Invited application for 50,000 equity share @ 10 each at a premium of 20% payable as Rs.6 on application and Rs.6 on allotment (including premium). Application were received for 90,000 equity share and allotment was made as follows: |
| Applied 40,000 - Allotted 10,000 (Category 1) |
| Applied 50,000 - Allotted 40,000 (Category 2) |
| Mr. Ram to whom 1000 shares allotted in category 2 failed to pay the allotment money. Calculate net allotment money not paid by Mr. Ram : |
A) 7,500
B) 1,500
C) 6,000
D) 4,500
Correct Answer: D
Solution :
4,500
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