Mithas Limited was formed with a share capital of Rs. 50,00,000 divided into 50,000 shares of Rs. 100 each. 9,000 shares were issued to the vendor as fully paid for a purchase consideration of the furniture acquired. 30,000 shares were allotted in payment of cash on which Rs. 70 per share was called and paid. State the amount of subscribed capital:

1
Rs. 50,00,000
2
Rs. 30,50,000
3
Rs. 30,00,000
4
Rs. 20,00,000

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