Mittal Ltd. Invited applications for 50,000, 10% Debentures of Rs 10 each at par, payable the full amount at the time of application. Applications were received for 60,000 Debentures. Debentures were allotted and excess money was refunded. By how much amount the bank account be credited?

₹1,00,000

Excess money received = 10000 debentures x ₹10
                                      = ₹1,00,000