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:

Rs 20

The correct answer is Option (1) → Rs 20

• Number of shares = 1,200

• Amount of first call = ₹2 per share

• Amount paid 1 month late (since second and final call was due 1 month after first call)

• Interest on Calls in Arrears = 10% p.a. (as per Table F of Companies Act, 2013)

Total amount in arrears = 1,200 shares×₹2= ₹2,400

Interest = 2,400× 10/100 x 1/12 = ₹20