N Ltd. purchased fixed asset of ₹4,00,000 out of which ₹1,30,000 was paid in cash and balance in debentures. The consideration was paid by the issue of 12% Debenture of Rs. 100 each at 10% discount. How many debentures were issued?
Answer & explanation
Correct answer: option 1
The correct answer is option 1- 3,000.
Amount paid in the form of debentures = 4,00,000 - 1,30,000
= ₹2,70,000
Value of a debenture issued at 10% discount = 100 - 10
= ₹90
No. of debentures issued = 2,70,000 / 90
= 3,000