A company's reserves and surplus was ₹7,00,000 in the year 2019 and it became ₹13,00,000 in the year 2020. What is the percentage of change in company's reserves and surplus?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- 85.71%.
Reserves and surplus in 2019 = ₹7,00,000
Reserves and surplus in 2020 = ₹13,00,000
Change = 13,00,000 - 7,00,000
= ₹6,00,000
% of Change = (Change / Previous year figure) x 100
= 6,00,000/700,000*100
= 85.71%