The nominal and book values of debenture redemption fund investments account are respectively?
The nominal and book values of debenture redemption fund investments account are respectively Rs.1,00,000 and Rs.96,000. The company sold investments of the nominal value of Rs.30,000 at a price which was just sufficient to redeem debentures of Rs.30,000 at 10% premium, the profit on a sale of investment is
(a) Rs. 4,200 (b) Rs. 3,000 (c) Nil
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