Question : A sports club received Rs.52,000 as subscription during the year. The club has 750 members each paying an annual subscription of Rs.100 each. Last year, 55 members of the club paid subscription in advance for this year. Subscription outstanding for the year amounts to:
Option 1: Rs.12,500
Option 2: Rs.13,000
Option 3: Rs.17,500
Option 4: Rs.25,000
Answer (1)
22nd Jan, 2024
Correct Answer: Rs.17,500
Solution :
Subscription during the year = Rs.100 X Rs.750 = Rs.75,000
(-) Subscription received = (
Rs.52,000)
Subscription outstanding = Rs.23,000
(-) Subscription paid in advance = (
Rs.5,500)
Subscription during the year =
Rs.17,500
Hence, the correct option is 3.
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