Practicing Success
Read the following passage and answer the question. EFG Ltd. invited applications for 10,000 shares of ₹100 each at a premium of 10 each which is payable as follows- |
How much money is refunded by the company? |
₹75,000 ₹1,25,000 ₹35,000 ₹95,000 |
₹1,25,000 |
The correct answer is option 2- ₹1,25,000. Application rejected = 2,500 shares |