Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:
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When calculating the amount received on application, always multiply the total number of shares applied for by the price per share specified in the application terms.
The total amount received upon application is calculated by multiplying the total shares applied for (48,000) by the application price (₹ 110 per share).
\[
Amount received = 48,000 \times 110 = ₹ 52,80,000.
\]