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Rs 100 debentures are issued at 5 percent discount with Rs 40 on application. How much is due on allotment?
ARs 65
BRs 60
CRs 45
DRs 55
Answer & Solution
Correct answer: D. Rs 55
The issue price is Rs 95, so allotment money is Rs 95 minus Rs 40, which is Rs 55.
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