Read the following passage carefully and answer the questions.

X Itd. Issued 30,000 shares to the public having Face value ₹100 at 10% premium. Money is receivable as follows:

Application = ₹40 (including premium)

Allotment = ₹45

First and Final call = Remaining amount

The public applied for 50,000 shares. The company rejected application for 10,000 shares and made a pro rata allotment to the rest of the applicants. A shareholder applying for 400 shares, didn't pay the allotment and call money and his allotted shares were forfeited by the company. Later, the forfeited shares were reissued at ₹80 each as fully paid. 

Amount to be credited to Calls-in Arrears account at the time of forfeiture is:

₹17,000

The correct answer is option 3- ₹17,000.

Issue applications = 30,000
Received applications = 50,000
Rejected application = 10,000
Pro rata made on = 50,000 - 10,000
                          = 40,000

Those who apply for 40,000 shares got 30,000 shares.

A shareholder applying for 400 shares, didn't pay the allotment and call money.

Alloteed shares to shareholder = 30,000/40,000 x 400
                                             = 300

Money received by him application = 400 x 40
                                                   = 16,000

Money required  on application = 300 shares x 40
                                             = 12,000

Excess money adjusted on allotment = 16,000 - 12,000
                                                      = 4,000

Money due on allotment and calls = 300 shares x (45 +25)
                                                  = 300 x 70
                                                 = 21,000

Money not received = 21,000 - 4,000
                             = 17,000