Read the passage and answer the question.
Superb Limited issued Equity shares of the value ₹3,00,000, the face value being ₹10 each at a premium of 20%. The amount payable was-
Application-30%
Allotment-50% (including premium)
Two calls - Equal amount
Pro-Rata allotment was done to all applicants of 40,000 shares.
Ramit who applied for 80 shares failed to pay both calls and his shares were subsequently forfeited.
Ramit was allotted how many shares?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 60 shares
In a pro-rata allotment every applicant gets the same fraction of the shares applied for.
Shares offered = 3,00,000 ÷ 10 = 30,000
Pro-rata ratio = 30,000 allotted : 40,000 applied = 3 : 4
Shares allotted to Ramit = 80 × 3/4 = 60 shares
NCERT (2026-27 edition):
|
