The land is appreciated by 40%. What is

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

The land is appreciated by 40%. What is revalued value of the land (₹8,00,000) of the firm?

Options:

₹11,00,000

₹12,00,000

₹4,80,000

₹11,20,000

Correct Answer:

₹11,20,000

Explanation:

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