Question:
Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:
Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:
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When calculating the amount received on application, always multiply the total number of shares applied for by the price per share specified in the application terms.
Updated On: Jan 25, 2025
- ₹ 52,80,000
- ₹ 55,00,000
- ₹ 50,00,000
- ₹ 48,00,000
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The Correct Option is A
Solution and Explanation
The amount received on application will be the total number of shares applied for (48,000 shares) multiplied by the application price (₹ 110 per share).
\[
Amount received} = 48,000 \times 110 = ₹ 52,80,000.
\]
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