The subscribed capital of a company is ₹8000000 and the nominal value of the share is ₹100 each. There were no calls in arrears till the final call was made. The final call made was paid on 77,500 shares only. The balance in the calls in arrears amounted to ₹62500. How much amount was received on the final call by the shareholders?
Answer & explanation
Correct answer: option 3
Total shares = ₹8000000 of ₹100 each means 8000000/100= 80000 shares
Final call was paid for 77500 shares means (80000-77500) 2500 shares were not paid final call.
Amount not received on 2500 shares were ₹62500
Final call = 62500/2500 = ₹25
Amount received on final call = 77500 X 25 = ₹1937500
Final call was paid for 77500 shares means (80000-77500) 2500 shares were not paid final call.
Amount not received on 2500 shares were ₹62500
Final call = 62500/2500 = ₹25
Amount received on final call = 77500 X 25 = ₹1937500