A company had Rs 10,00,000; 12% Debentures due for redemption. The company had a balance of Rs 2,00,000 in its DRR. How much amount would it transfer to Debenture Redemption Investment Account?
Answer & explanation
Correct answer: option 2
Minimum DRI required 15% of total value = 15% * 10,00,000 = 1,50,000