A Ltd issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro-rata allotment was made on the applications of 2,400 shares. If A has been allotted 40 shares, how many shares he must have applied for?
A. 40
B. 44
C. 48
D. 52
Answer: Option C
This Question Belongs to Commerce >> Accounting
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