Read the following data of a company and answer the question.
 
Public deposits-  ₹4,00,000
O/S Expenses-   ₹10,000
Calls in advance-   ₹25,000
Provision for employee benefits-   ₹20,000  (maturing within operating cycle of the company)
Provision for taxation-    ₹1,50,000

What is the amount of short-term provision?

₹1,70,000

The correct answer is option 3- ₹1,70,000.

Short term Provisions = Provision for employee benefits + Provision for taxation
                                  = 20,000+ 1,50,000
                                  = ₹1,70,000