Question

Metacaf Ltd issued 50,000 shares of Rs.100 each payable Rs.20 on application(on 1st May 2012); Rs.30 on allotment (on 1st January 2013); Rs.20 on 1st call(on 1st July 2013) and the balance on final call (on 1st February 2014). Shankar, a shareholder holding 5000 shares didn't pay the first call on the due date. The second call was made and Shankar paid the first call amount along with the second call.All sums due were received. Total amount received on 1st February was:
a)Rs.1500000
b)Rs.1600000
c)Rs.1000000
d) Rs.1100000

Answer 1

Answer:

I think the answer is

B 1600000