question_answer

You are required to answer the following 35 to 43:

Vinod Limited applications for 60,000 shares of Rs.10 each at a premium of 40%, payable as follows :

On Application Rs.5 (including premium Rs.1)

On Allotment...........................................................Rs.4 (including premium Rs.1)

On First Call............................................................Rs.3 (including premium Rs.1)

On Second & Final Call ..........................................Rs.2 (including premium Rs.1)

Applications were received for 96,000 shares out of which 26,000 applications were rejected and pro-rata allotment was made to remaining applicants.

Ram to whom 1200 shares were allotted, failed to pay allotment money and his shares were forfeited immediately after allotment.

Mohan, who applied for 2100 shares failed to pay two calls and his shares were forfeited.

Sohan, who was allotted 600 shares did not pay the second call.

How many shares were allotted on Pro-rata basis?

A) 60,000

B) 70,000

C) 80,000

D) 96,000