Question:
On 1st April, 2022, Mega Ltd. issued 30,000, 10% Debentures of ₹100 each at a discount of 10%. The total amount of interest due on debentures for the year ending 31st March, 2023 will be:}
On 1st April, 2022, Mega Ltd. issued 30,000, 10% Debentures of ₹100 each at a discount of 10%. The total amount of interest due on debentures for the year ending 31st March, 2023 will be:}
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Debenture interest is calculated on the face value, not on the issue price.
Updated On: June 02, 2025
- ₹2,70,000
- ₹3,00,000
- ₹27,000
- ₹30,000
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Verified By Collegedunia
The Correct Option is B
Solution and Explanation
Step 1: Calculate the total debenture amount.
The face value of each debenture is ₹100, and 30,000 debentures were issued. Therefore:
\[
\text{Total face value} = 30,000 \times ₹100 = ₹30,00,000.
\]
Step 2: Calculate the annual interest.
The interest rate is 10%, so the total interest for one year is:
\[
\text{Total interest} = 10% \times ₹30,00,000 = ₹3,00,000.
\]
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