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Calls in Advance

A shareholder...

Question

A shareholder holding 600 shares paid the amount of call @ Rs. 5 per share on 1st November 2013 whereas the call was due on 1st March 2014. Maximum interest on calls in advance will be :

A

Rs.150

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B

Rs. 120

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C

Rs. 50

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D

Rs. 60

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Solution

The correct option is B
Rs. 120

Maximum interest on calls in advance will be

= 600512%*4/12

= Rs 120

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