question_answer

KK Ltd. invited applications for 10,000 equity shares of Rs.10 each. The whole amount was payable on application. Company has received applications for 8,000 shares only. Because it was less than 90%, Director have decided to cancel this issue and to refund the money to the applicants with the letters of regret. How much amount is to be refunded to the applicants?

A) 1,00,000

B) 80,000 

C) 90,000

D) 72,000