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Rs. 5,40,000 is raised by issuing Rs. 100 shares at 20% premium. How many shares?
A5,400
B5,000
C4,800
D4,500
Answer & Solution
Correct answer: D. 4,500
Issue price is Rs. 120, so Rs. 5,40,000 divided by 120 gives 4,500 shares.
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