A bus travels300 kilometers at the given speed. If the speed is increased by 5 kilometers per hour, the trip will be reduced by one hour. find the speed.
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LEGAL STUDIES
Ajay Ltd. decided to redeem 10,000 Preference shares of Rs. 10 each at 10% premium. Balance in profit & loss account is Rs. 65,000 and in securities premium accountis Rs. 5,000. You are required to calculate the minimum number of equity shares to be issued for the purpose of redemption if new equity shares are to be issued at 20% premium having face value of Rs. 10 each.
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ANSWER
Nominal Value of preference shares + premium on redemption = Existing securities premium + divisible profits available for redemption + sale proceeds of fresh issue of new shares
Therefore, Rs 1,00,000+ Rs 10,000 = Rs 5,000 + Rs 65,000 + X
Hence, X is Rs 40,000. So, the minimum number of equity shares to be issued for the purpose of redemption if new equity shares are to be issued at 20% premium having face value of Rs. 10 each will be Rs 40,000/Rs 10 i.e. 4,000.
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