question_answer

On the basis of the above information give answer to the following questions 9 to 16:

A new company of Electronics Product was established in Delhi under Make in India campaign. To arrange the finance, Vinod Ltd. invited applications for 60,000 Shares of Rs.100 each at a premium of Rs.20 per share payable as follows:

On Application Rs.40 (including Rs.10 premium)

On Allotment Rs.30 (including Rs.10 premium)

On First Call Rs.30

On Second & Final Call Rs.20

Excess applications were received for 30,000 shares and pro-rata allotment was made on the application for 70,000 shares and a letter of regret was sent to other with refund. Excess application money is to be utilised towards allotment.

Rohan to whom 1,200 Shares were allotted failed to pay the allotment money and his shares were forfeited after allotment.

Aman who applied for 2,100 shares failed to pay first call and his share were forfeited after first Call.

Second and final call was made. All the money due on second call have been received.

Of the shares forfeited, 2,000 shares were reissued as fully paid-up for Rs.80 per share, which included the whole of Aman's shares.

How many applications have been received?

A) 1,00,000 

B) 90,000

C) 80,000

D) 70,000