XYZ ltd. Issued 1,000 shares of Rs 10 each, at 10% premium ,payable as follows :
Application - Rs 5
Allot - Rs 3 (including premium)
First and final call - Balance
Calculate the amount received on first and final call.

₹3,000

Face value per share = Rs 10
Premium per share = 10% of Rs 10 = Rs 1
Application money per share = Rs 5
Allotment money per share = Rs 3 (including premium)
Amount received on first and final call = Total payment per share - (Application money + Allotment money)
Total payment per share = Face value + Premium = Rs 10 + Rs 1 = Rs 11
Amount received on first and final call = Rs 11 - (Rs 5 + Rs 3)
                                                           = Rs 11 - Rs 8
                                                           = 3
Amount received on first and final call = 1000 x 3
                                                            = ₹3000