A company issued 4,000 equity shares of Rs. 50 each at par payable under: On application 20%, on allotment 40% ; on first call 10% ; on final call-balance Applications were received for 10,000 shares. Allotment was made pro-rata. How much amount will be received in cash on allotment?
1
Rs. 6,000
2
nil
3
Rs. 16,000
4
Rs. 20,000