Given Information:
- Total cost of machine = Rs. 3,80,000
- Cash paid = Rs. 20,000
- Balance paid by issue of shares
- Face value of shares = Rs. 100 each
- Shares issued at par (at face value)
Balance amount to be paid through shares:
Balance = Total cost - Cash paid
Balance = Rs. 3,80,000 - Rs. 20,000 = Rs. 3,60,000
When shares are issued at par, it means they are issued at their face value without any premium or discount.
Number of shares issued = Face Value per ShareBalance Amount
Number of shares = 1003,60,000 = 3,600 shares
Correct Option: 3