Question

shyam deposits Rs 5000 every year for next 3 years at 6% semiannual compounding. calculate the future value if investment? Future value amity factor at 3% for 3 years and 6 years is 3.0909 & 6.4684 respectively and at 6% for 3 years and 6 years is 3.1836 & 6.9753 respectively.

Answer 1

each at 11 per share. money was payable as follows: 3 on application, 4 allotment ( including premium) , 4 on first and final call. applications were received for 12000 shares and the directors made pro-rata allotment. mr. ahmad, an applicant for 120 shares, could not pay the allotment and call money and mr. basu, a holder of 200 shares, failed to pay the call. all these shares were forfeited. out of the forfeited shares, 150 shares ( the whole of mr. ahmad's shares