64,000, 12% preference shares of Rs.10 each are to be redeemed at a premium of 5%. Divisible profits available Rs.2,00,000. Face value of fresh equity share to be issued is Rs.80. Calculate the number of fresh equity shares to be issued.

64,000, 12% preference shares of Rs.10 each are to be redeemed at a pr

1.	64,000, 12% preference shares of Rs.10 each are to be redeemed at a premium of 5%. Divisible profits available Rs.2,00,000. Face value of fresh equity share to be issued is Rs.80. Calculate the number of fresh equity shares to be issued.
A.	4,400
B.	5,200
C.	5,900
D.	6,300
Answer» D. 6,300

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64,000, 12% preference shares of Rs.10 each are to be redeemed at a premium of 5%. Divisible profits available Rs.2,00,000. Face value of fresh equity share to be issued is Rs.80. Calculate the number of fresh equity shares to be issued.

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