There are 500 members in a Rotary club, each paying ₹1,000 as an annual subscription. During the current financial year, 100 members paid only a partial subscription amounting to ₹80,000 in total. 10 members left without giving any subscription for the year. The actual amount of subscription cash received during the current financial year will be:
- A₹4,80,000
- B₹4,70,000
- C₹4,90,000
- D₹5,00,000
Solution & Step-by-step Explanation
Let's break down the categories of members and calculate cash collections:Total members = 500Members paying partial subscription = 100 Actual cash received = ₹80,000Members who left without paying = 10 Cash received = ₹0Remaining members who paid full subscription = members.Cash from fully paying members = .Total subscription cash received during the year: