A company was registered with a nominal capital of ₹3000000 divided into shares of ₹100 each, Out of which 20000 shares were offered to the public. The amount payable was ₹30 per share on the application, ₹40 per share on the allotment, and ₹30 per share on the first and final call. 19500 shares are subscribed by the public which is allotted to them. A shareholder holding 800 shares did not pay the allotment money and further any call.

What is the authorized capital of the company?

₹3000000 ₹2000000 ₹1950000 None of these

₹3000000

Authorised capital is ₹3000000 divided into shares of ₹100 each