X Ltd allotted 25,000 equity shares to the applicants of 36,000 shares for Rs. 10 each on pro-rata basis. A applied for 1800 equity shares. Shares allotted to him are . . . . . . . . and he had paid an application money of Rs. 5 per share . . . . . . . . is the excess amount received that can be utilised towards allotment money.

A. 1,500 shares, Rs. 1,500

B. 1,250 shares, Rs. 2,750

C. 1,350 shares, Rs. 2,250

D. 1,050 shares, Rs. 3,750

Answer: Option B