Question

18 MIG Ltd. forfeited 40 shares of 10 each issued at a premium of 40% to Raj who had applied for
48 shares. After having paid 6 (including * 2 premium), he did not pay allotment money of 2 (including
1 premium) and on his subsequent failure to pay the first call of * 3 (including 1 premium) his shares
were forfeited. The amount to be credited to Forfeited Shares Account is
a) 288.
(b) 200
(c) 192.
(d) 160.

Answer 1

160 because I want to be nikal