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Question
X Co. Ltd. purchased assets worth Rs. 28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is ______.
Options
30,000
28,800
32,000
MCQ
Fill in the Blanks
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Solution
X Co. Ltd. purchased assets worth Rs. 28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is 30,000.
Explanation:
Number of debentures issued in case of 4% discount.
| Face value | 100 |
| Less: Discount 4 % | 4 |
| Value at which it is issued | 96 |
= Rs. `((28,80,000)/96)` = 30000 debentures
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