Surya limited invited applications for 15,000 shares for ₹10 each at a premium of 20% per share. The amount was payable as under :

On application ₹4        On allotment ₹6
On first call ₹1             On final call-Balance

Applications were received for 36,000 shares and pro-rata allotment was made to all the applicants. Directors have not made the final call. Mr. Ritesh the holder of 300 shares did not pay anything after application money. Directors forfeited these shares and re-issued them at ₹6 per share.

On the basis of following case, answer the Question.

Pro-rata allotment made to the applicants in the ratio of _________.

12 : 5

The correct answer is Option (3) - 12 : 5.

Applications received = 36,000 shares
Applications issued = 15,000 shares
Pro-rata allotment made to all applicants i.e. 36000 shares.

Pro-rata allotment ratio = 36000:15000
                                   = 12:5