Q.
A Ltd. issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro-rata allotment was made on the applications of 2,400 shares. If A has been allotted 40 shares, how many shares he must have applied for ?
[A] 40
[B] 44
[C] 48
[D] 50
Answer & Explanation
Answer: 48