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5 shareholders of a company have 1290, 2302, 9802, 3202, 7480 shares of the company, respectively. If the company announces a bonus of 2 shares for every 4 shares held, what will be the new average of the shares held by these shareholders?

5 shareholders of a company have 1290, 2302, 9802, 3202, 7480 shares of the company, respectively. If the company announces a bonus of 2 shares for every 4 shares held, what will be the new average of the shares held by these shareholders? Correct Answer 7222.8

Let the shareholder name be a, b, c, d and e, respectively. Shares owned by each after the bonus: A: 1290 + 1290 / 4 * 2 = 1290 + 645 = 1935 B: 2302 + 2302 / 4 * 2 = 2302 + 1151 = 3453 C: 9802 + 9802 / 4 * 2 = 9802 + 4901 = 14703 D: 3202 + 3202 / 4 * 2 = 3202 + 1601 = 4803 E: 7480 + 7480 / 4 * 2 = 7480 + 3740 = 11220 Total shares held = 1935 + 3453 + 14703 + 4803 + 11220 = 36114 Average shares held = 36114 / 5 = 7222.8

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Which of the following statements are true/ false?
1. Every employer shall be bound to pay to every employee in respect of the accounting year commencing on any day in the year 1979 and in respect of every subsequent accounting year, a minimum bonus which shall be 9.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, whichever is higher, whether or not the employer has any allocable surplus in the accounting year.
2. Bonus will be paid in cash to the employees.
3. If the allocable surplus exceeds the amount of minimum bonus payable to the employees, the employer is bound to pay to every employee in respect of that accounting year bonus which shall be an amount in proportion to the salary or wages earned by the employee during the accounting year subject to a maximum of 10% of such salary or wage.
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Reason (R): The company can satisfy the share holders and avoid the outflow of cash from business by utilizing only the Capital reserve for the issue of bonus shares.
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