A company forfeited 400 shares of ₹20 each ₹15 called up, on which application and allotment money of ₹11 per share has been received. How much amount is not received that is called up by the company?

₹1100 ₹1500 ₹1600 ₹1900

₹1600

Called up amount = 400 X 15 = ₹6000 Paid up amount= 400 X 11 = ₹4400 Amount not paid by the shareholders = 400 X 4 = ₹1600