Raj Ltd. was registered with $70,000$ equity shares. They issued $40,000$ equity shares @ $10$ each payable as follow :On Application Rs. $4$ per shareOn Allotment Rs. $3$ per shareand Balance on $2$ callsThe issue was over subscribed by $50,000$ shares. The directors decided upon making prorata allotment to $60,000$ shares while remaining were returned.Total applications received are for :

1. A
   $90,000$ shares
2. B
   $50,000$ shares
3. C
   $40,000$ shares
4. D
   $60,000$ shares