Read the following passage and answer the questions given below-
Abhishek Ltd. issued 5,000 debentures @ 9% p.a. of ₹100 each at a premium of ₹20 payable as follows-
Application- ₹40 including premium of ₹10
Allotment- ₹40 including premium of ₹10
Balance on the first and final call.
Applications were received fully and all amounts were received.
What will be the amount of allotment without securities premium?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- ₹1,50,000
Total face value = ₹100
Allotment- ₹40 including premium of ₹10 means 40-10= ₹30
So, total amount = 5,000 x 30
= ₹1,50,000