Question

Shubham Ltd. purchased a machinery of ₹ 3,80,000 from Ganpati Ltd. The payment was made by issue of 3,000 equity shares of ₹ 100 each at a premium of 10% and the balance by issuing a cheque. The amount of cheque issued in favour of Ganpati Ltd. was:

विकल्प

• ₹ 80,000

• ₹ 3,80,000

• ₹ 30,000

• ₹ 50,000

Answer 1

₹ 50,000

Explanation:

	₹
Amount of Machinery Purchased	3,80,000
Amount through 3,000 shares of ₹ 100 at a premium of 10% (3,000 × 100 + 10% of 3,00,000)	3,30,000
Amount to be paid by cheque	50,000