The following amounts were payable on the issue of shares:
₹3 on application,
₹3 on the allotment,
₹2 on the first call, and
₹2 on the final call.
X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay the final call. How much amount is not paid by X?
Answer & explanation
Correct answer: option 4
The correct answer is option 4- ₹2000.
X holds 500 shares
Not pay the first and final call means (2+2) = ₹ 4
Amount not paid by X = 500 X 4
= ₹2,000