Anish Ltd, Issued a Prospectus Inviting Applications For 2,000 Shares. Applications Were Received For 3,000 Shares - Bzziii.com

Anish Ltd, issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro- rata allotment was made to the applicants of 2,400 shares. If Dhruv has been allotted 40 shares, how many shares he must have applied for?

(A) 40
(B) 44
(C) 48
(D) 52

(C) 48 

Explanation: 

Total Number of Shares Issued by Anish Ltd. = 2,000

Total Number of Allotted Shares by Anish Ltd. = 2,400

Dhruv has been allotted 40 shares

∴ Dhruv must have applied for = `"Allotted Shares X share holder's alloted shares"/"Total Share"`

= `"2,400 x 40"/"2,000"`

= `"96,000"/"2,000"`

= 48 Shares.

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CBSE Class 12 Accountancy Sample Paper-2022