Vinod Ltd. has received a lump sum amount of Rs.3,30,000 on Application and allotted 20,000
Equity Shares of Rs.10 each at a premium of 10%.
How much amount is to be refunded to the applicants?(b) 1,30,000
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Answer:
1,10,000
Explanation:
Total amount received = 3,30,000
Amount must receive = 20,000*11
excess money will be refunded i.e. 3,30,000-2,20,000 =1,10,000
Therefore answers is 1,10,000
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