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Anish Ltd. issued a prospectus  inviting  applications  for  2,000 shares. Applications were received for 3,000 shares and pro-rata allotment was made to the applicants of 2,400 shares. If Dhruv has been allotted 40 shares, how many shares he  must  have  applied for?
  • a)
    40
  • b)
    44
  • c)
    48
  • d)
    52
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Anish Ltd. issued a prospectus inviting applications for 2,000 shares....
No. of Shares Dhruv applied for = 
= 48 shares
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Most Upvoted Answer
Anish Ltd. issued a prospectus inviting applications for 2,000 shares....
Given information:
- Anish Ltd. issued a prospectus inviting applications for 2,000 shares
- Applications were received for 3,000 shares
- Pro-rata allotment was made to the applicants of 2,400 shares
- Dhruv has been allotted 40 shares

To find: How many shares Dhruv must have applied for

Solution:
Pro-rata allotment means that each applicant is allotted shares in proportion to the number of shares they applied for. So, we can use the following formula to calculate the number of shares Dhruv must have applied for:

Number of shares allotted to Dhruv / Total shares allotted = Number of shares applied by Dhruv / Total shares applied

Plugging in the values we know, we get:

40 / 2,400 = x / 3,000

Solving for x, we get:

x = (40 x 3,000) / 2,400

x = 50

Therefore, Dhruv must have applied for 48 shares (option C) in order to be allotted 40 shares.
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Anish Ltd. issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro-rata allotment was made to the applicants of 2,400 shares. If Dhruv has been allotted 40 shares, how many shares he must have applied for?a)40b)44c)48d)52Correct answer is option 'C'. Can you explain this answer?
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