Practicing Success
Read the following passage and answer the question. EFG Ltd. invited applications for 10,000 shares of ₹100 each at a premium of 10 each which is payable as follows- |
How much amount is not received by shareholder A at the time of allotment? |
₹9,000 ₹9,500 ₹8,500 ₹8,000 |
₹9,000 |
The correct answer is option 1- ₹9,000. Who allotted 10,000 shares applied for 12,500 shares Money received on application by A = 500 x 50 Excess money received by A on application = 100 x 50 |