CA CPT 2014 June Question Paper Fundamentals of Accounting for online practice

Ajay Ltd decides to redeem 10,000 preference shares of Rs. 10/- each at 10% premium. Balance in P & L A/c is Rs.65,000 and securities premium A/c is Rs. 5,000. You are required to calculate the minimum number of equityshares at the rate of Rs. 10/- each at 20% discount