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Issued Share Capital

A company iss...

Question

A company issued 15,000 equity shares of ₹10 each to the public at a premium of ₹2 per share payable on allotment.
Applications were received for 18,000 shares, and the allotment was made on a pro rata basis. Rajan, an applicant, applied for 900 shares. Calculate the number of shares allotted to him.

[0.88 marks]

A

900 shares

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B

1,500 shares

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C

750 shares

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D

800 shares

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Solution

The correct option is C 750 shares
Number of shares allotted $= 900 \times \frac{15, 000}{18, 000}$

$=$ 750 shares

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