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CUET

Q6. Avtar Ltd. invited application for 80,000 shares of ₹10 each payable 5/-. on Application, 3/- on allotment and 2/- on call. Public had applied for 2,50,000 shares out of which application for 30,000 shares were rejected and remaining were allotted on pro-rata basis. Excess application money was adjusted against allotment only. Determine the amount to be refunded at the time of allotment of shares.