Following amounts were payable on issue of shares by a company: Rs. 3 on application, Rs. 3 on allotment, Rs. 2 on first call and Rs. 2 on final call. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. Amount of Calls in arrear will be :

Rs. 3,800

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Rs. 2,800

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Rs. 1,800

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Rs. 6,200

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Solution

The correct option is B
Rs. 2,800

Amount of Calls in arrear will be

=500(2+2) + 4002

=(500*Rs. 4) + Rs. 800

=Rs. 2,000 + Rs. 800

= Rs 2,800

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