There are 50 members in the Rotary Club, which provide medical services to people. Each member pays ₹1000 as subscription. During the financial year 2021-22, 10 members paid only ₹7,000 out of total subscription, 5 members paid subscription for financial year 2020-21. 2 members left the organisation without any payment. Amount credited to Income and Expenditure Account will be:

₹48000

The correct answer is option 2- ₹48,000.

Total members= 50
2 members left during the year, so remaining members are 48.
Amount credited to income & expenditure A/c = 48 members x 1000
                                                               = ₹48000 (irrespective of the fact that whether the entire amount is received during the year or not as income and expenditure records only current year)