Question : Z Ltd. offered to public 80,000 shares for subscription. Applications were received for 1,30,000 shares and pro rata allotment was made to the applicants. X applied for 52,000 shares and Y was allotted 16,000 shares.
On the basis of the above information, calculate
Question :- How many shares were applied by Y?
Option 1: 16,000 shares
Option 2: 26,000 shares
Option 3: 8,000 shares
Option 4: None of these
Correct Answer: 26,000 shares
Solution :
Answer = 26,000 shares
No. of shares applied by Y = 130000/80,000 x 16,000 or 13/8 x 16,000 = 26,000 shares.