Question : There are 400 members of the club, each paying an annual subscription of Rs 200. Total subscriptions received during the year 2018-2019 were Rs 78,000 (including Rs 4,000 for last year and Rs 1,000 for next year) During 2017-2018, 15 members had paid their subscription for 2018-2019 also. What is the subscription outstanding for the current year?
Option 1: Rs 9,000
Option 2: Rs 80,000
Option 3: Rs 4,000
Option 4: Rs 3,000
Correct Answer: Rs 4,000
Solution :
Annual subscription due = Rs.80,000 (Rs.200 X 400)
(-) Total subscriptions received = (Rs.73,000) [78,000-5,000 (4,000+1,000)]
(-) Subscription paid (15 X Rs.200) =
(Rs.3,000)
Oustanding closing subscription =
Rs.4,000
Hence, the correct option is 3.
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