| On application | Rs. 3 per share |
| On allotment | Rs. 4 per share |
| On 1st and final call | Balance |
Applications for 95,000 shares were received and shares were allotted to all the applicants. Sonam to whom 500 shares were allotted failed to pay allotment money and Gautam paid his entire amount due including the amount due on first and final call on the 750 shares allotted to him along with allotment. What was the amount received on allotment? (C.B.S.E 2015)
SOLUTION
Rs. 3,80,250.