The land is appreciated by 40%. What is

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Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

The land is appreciated by 40%. What is revalued value of the land (₹800000) of the firm?

Options:

₹1100000

₹1200000

₹480000

₹1120000

Correct Answer:

₹1120000

Explanation:

The correct answer is option 4- ₹1120000.

Land = ₹800000
Appreciation = 800000 x 40/100
= ₹320000
Revalued value = 800000 + 320000
= ₹1120000