Mr. Smith applied for 200 shares at Rs. 10 per share, but 160 shares were alloted to him. After paying Rs. 2 per share on application he did not pay the allotment money of Rs. 2 per share and first call money of Rs. 3 per share. What is the outstanding amount on the shares alloted to Mr. Smith?

A) Rs. 800 B) Rs. 1,280 C) Rs. 320 D) Rs. 720

Answer & Solution

Correct Answer: Option D

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Kundan Patidar 3 years ago

Why not 800 because question has not mentioned whether company has retained his oversubscription or returned the amount of oversubscription I.e. 40×2=80rs
720+80=800 could be the answer

Gulrez Tawar 3 years ago

880

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Mr Smith applied for 200 shares at Rs 10 per share...

Mr. Smith applied for 200 shares at Rs. 10 per share, but 160 shares were alloted to him. After paying Rs. 2 per share on application he did not pay the allotment money of Rs. 2 per share and first call money of Rs. 3 per share. What is the outstanding amount on the shares alloted to Mr. Smith?

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