X ltd. invited applications for 5,000 , 12% Debentures of Rs 10 each, issued at premium of Rs 20%. Applications were received for 8,000 Debentures and it was dealt as follows:
i. Full allotment to 1,000 Debentures
ii. Rejected applications of 800 Debentures
iii. Remaining applications on pro rata basis
How much money was refunded by company if no excess money is adjusted against future installements?

₹36,000

Total Application money received - 8000 * 12 = 96,000
Transferred to - 12 % Debentures A/c - 5,000*10= 50,000
Security Premium Reserve A/c - 5,000* 2 = 10,000
Bank A/c - 36,000(REFUNDED)