Dev Raj Limited issued a prospectus inviting application for 30,000 equity shares of Rs.10 each at a premium of Rs. 4 per share payable as follows:

With Application (including premium Rs.1) Rs. 3

On Allotment (including premium Rs.1) Rs. 4

On First call (including premium Rs.1) Rs. 4

On Second and Final call (including premium Rs.1) Rs. 3

Applications were received for 45,000 shares. 20% of the applications received were rejected and their application money was refunded. Remaining applicants were allotted shares on pro-rata basis. Mr. Samrat, who has applied for 600 shares, failed to pay the allotment money and his shares were forfeited immediately after that. What will be the total amount received on allotment?

Rs 1,00,300

The correct answer is Option (1) → 

Rs 1,00,300