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?

60 shares

The correct answer is option 2- 60 shares.

Total shares issued by company = 3,00,000/10
                                                   = 30,000

Person who applied for 40,000 shares got 30,000 shares
Ramit applied for 80 shares so he got = 30,000/40,000 X 80
                                                            = 60 shares