question_answer

On the basis of the above information give answer to the following questions 17 to 21: Vinod Limited invited applications for subscription of 40,000 Equity Shares. Applications were received in excess of 50% of the shares offered for subscription and pro-rata allotment was made to the applicants of 48,000 shares and a letter or regret was sent to the remaining with refund. David was allotted 1,600 shares and Mohan had applied for 2,400 shares. Applications received by Vinod Ltd.

A) 50,000

B) 60,000

C) 70,000

D) 80,000