A shareholder holding 600 shares paid the amount of call @ ₹5 per share on 1st November 2018 whereas the call was due on 1st March 2019. Interest on calls in advance as per Table F will be :

₹120

The correct answer is option 1- ₹120.

Table F of the Companies Act provides for the payment of Interest on calls in advance @ 12%. Therefore, the interest on calls in advance will be-
Total amount paid = 600 x 5
                             = 3,000

Interest will be calculated from 1st Nov to 1st March i.e. 4 months.

Interest = 3,000 x 4/12 x 12/100
              = 120

Thus, interest is ₹120.