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Question

X Co. Ltd purchased assets worth Rs. 28,80,000. It issued debentures of Rs. 100 each at a discount of 4% in full satisfaction of the purchase consideration. The number of debentures issued to the vendor of asset is?

A
30,000
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B
28,800
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C
32,000
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D
35,000
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Solution

The correct option is C 30,000
Debentures Value = Rs. 100.
4% of 100 = Rs. 4 Discount. Debentures are issued at Price of Rs. 96.
Number of Debentures issued = 28,80,000/ 96 = 30,000.

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