Read the passage and answer the question.
Superb Limited issued Equity shares of the value ₹3,00,000, the face value being ₹10 each at a premium of 20%. The amount payable was-
Application-30%
Allotment-50% (including premium)
Two calls - Equal amount
Pro-Rata allotment was done to all applicants of 40,000 shares.
Ramit who applied for 80 shares failed to pay both calls and his shares were subsequently forfeited.
The value of the second & final call is:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → ₹2
The percentages are of the face value of Rs. 10, and the premium of 20% is Rs. 2 a share.
Application = 30% of Rs. 10 = Rs. 3
Allotment = 50% of Rs. 10 = Rs. 5, of which Rs. 2 is premium and Rs. 3 is capital
Capital still to be called = 10 − 3 − 3 = Rs. 4
Each of the two equal calls = 4 ÷ 2 = Rs. 2
NCERT (2026-27 edition):
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