Question : A society has 400 members each paying an annual subscription of Rs.100. Subscription due at the end of the year is Rs.7,200 and the subscription received during the year is Rs.38,000. Thus, the subscription received in advance for the next year amounts to:
Option 1: Rs.9,200
Option 2: Rs.5,200
Option 3: Rs.4,800
Option 4: None of these
Answer (1)
23rd Jan, 2024
Correct Answer: Rs.5,200
Solution :
Subscription due = 400 X Rs.100 = Rs.40,000.
(-) Subscription received =
(Rs.38,000)
Closing outstanding subscription =
Rs.2,000
Subscription received in advance = Rs.7,200 - Rs.2,000 = Rs.5,200.
Hence, the correct option is 2.
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