Question

A Company invited applications for 1,00,000 shares and it received applications for 1,50,000 shares. Applications for 30,000 shares were rejected and the remaining were allotted shares on prorata basis. How many shares an applicant for 3,000 shares will be allotted :

Answer 1

Answer:

2500

Explanation:

( 1,00,000/1,20,000) x 3000= 2500

Answer 2

Answer:

Applications allotted for applicant of 3000 shares is 2500 shares on pro-rata basis.

Explanation:

Given Question:

1. Total share applications issue = 100000
2. Total Applications received = 150000
3. Total Applications rejected = 30000
4. Total Applications accepted = 120000 i.e. (2-3)
5. Applicant will get pro-rata allotment @ 100000:120000 i.e. 1 : 1.2

For, 3000 share applications pro rata allotment would be as follows:

3000 X 100000÷ 120000 = 2500