Read the following information and answer the question.

ABC Welfare Club has provided the following information on 31st March 2021.
Subscription received by the firm during the year ₹6,20,000. Details of which is as follows:
For the year 31st March 2020 30,000
For the year 31st March 2021 90%
For the year 31st March 2022 50,000
Amount of subscription in arrears as at 31st March 2020 was ₹45,000 out of which 20% was not receivable and to be written off.

What is the subscription in Arrears for the year 31st March 2021?

₹60,000

The correct answer is option 3- ₹60,000.

Total subscription received = ₹6,20,000 which include 90% of this current year and 80,000 (30,000 + 50,000) for the last or future year.
So current year subscription = 6,20,000 - 80,000
                                         = 5,40,000 which is 90%

So, 100% = 5,40,000 X 90/100
               = ₹6,00,000

So, subscription in arrears for the current year = 6,00,000 - 5,40,000
                                                                   = ₹60,000