CA CPT Dec 2015 Question Paper Fundamentals of Accounting for online practice

The Board of directors of a company decided to issue minimum no. of equity shares of Rs. 10 each at20% discount to redeem 4500 preference shares of Rs.100 each. If maximum amount of divisible profitavailable for redemption is Rs.250558. Calculate no. of equity shares to be issued. Also, if the companywishes to issue shares in multiples of 50.