Question

A Company issued 50,000 shares of ₹20 each at 5% premium. ₹10 were payable on application and balance on allotment. What will be the allotment amount?
(A) ₹5,00,000
(B) ₹4,75,000
(C) ₹5,50,000
(D) ₹5,25,000

#EXPLAIN WITH SOLUTION !!!!!!​

Answer 1

Answer:

option (C)

that is : 5,50,000

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Answer 2

C is the correct answer