Read the following passage and answer question from: Azad Limited having a nominal Capital of ₹3,00,000 divided into shares of ₹10 each offered for public subscription of 20,000 shares payable as ₹2 on application, ₹3 on allotment and balance in two calls of ₹2.50 each. Application were received for 24,000 shares by the company. All the applicants were allotted shares on pro-rata and balance in excess of application was adjusted towards allotment and balance, if any is to be returned. |
Identify the number of shares alloted to Mr. Raja who applied for 900 shares. |
900 shares 850 shares 800 shares 750 shares |
750 shares |
Issued shares = 20000 |