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Question
Ravi is a shareholder at Sarang Ltd., holding 5,000 shares of ₹ 20 each. He paid only the application money of ₹ 5, including a premium of ₹ 1. His shares were forfeited after the Final Call was made.
The maximum discount per share that can be offered by Sarang Ltd. to re-issue the forfeited shares is ______.
Options
₹ 1
₹ 4
₹ 5
₹ 15
MCQ
Fill in the Blanks
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Solution
Ravi is a shareholder at Sarang Ltd., holding 5,000 shares of ₹ 20 each. He paid only the application money of ₹ 5, including a premium of ₹ 1. His shares were forfeited after the Final Call was made.
The maximum discount per share that can be offered by Sarang Ltd. to re-issue the forfeited shares is 4.
Explanation:
Amount Forfeited = Total Paid − Premium
Amount Forfeited = 5 − 1
= 4
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