On 1st April, 2023, Mudra Ltd. issued 9,000, 12% Debentures of 100 each at 10% premium, redeemable at a premium of 10% after 4 years. The interest due on debentures for the year ended 31st March, 2024 was:
On 1st April, 2023, Mudra Ltd. issued 9,000, 12% Debentures of 100 each at 10% premium, redeemable at a premium of 10% after 4 years. The interest due on debentures for the year ended 31st March, 2024 was:
Show Hint
- 9,90,000
- 9,00,000
- 1,08,000
- 1,18,800
The Correct Option is C
Solution and Explanation
Face value per debenture = 100
Interest rate = 12% per annum \[ \text{Interest} = \frac{12}{100} \times 9,000 \times 100 = 1,08,000 \] Note: Interest is calculated on face value, not issue price or redemption value.
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