The land is appreciated by 40%. What is revalued value of the land (₹8,00,000) of the firm?
Answer & explanation
Correct answer: option 4
The correct answer is option 4- ₹11,20,000.
Land = ₹8,00,000
Appreciation = 8,00,000 x 40/100
= ₹3,20,000
Revalued value = 8,00,000 + 3,20,000
= ₹11,20,000