Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Shares

Question:

Hari, the holder of 1200 shares paid the amount due on first call @ Rs 2/- per share along with second and final call which became due after 1 month from the due date of first call. What interest will be charged from Hari on calls in arrears:

Options:

Rs 20

Rs 24

Rs 40

Rs 48

Correct Answer:

Rs 20

Explanation:

The correct answer is Option (1) → Rs 20