ICT Co. Ltd. purchased assets worth Rs. 28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 30,000
When debentures are issued to a vendor in full satisfaction of the purchase consideration, the vendor receives debentures worth the purchase price at their issue price, not at their face value. So the number of debentures = purchase consideration ÷ issue price of one debenture.
Issue price = Rs. 100 − 4% of Rs. 100 = Rs. 96
Number of debentures = Rs. 28,80,000 ÷ Rs. 96 = 30,000
Note: This question is from NCERT (2026-27). NTA sets numerical questions from NCERT too, so do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
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