Percentage of increase in turnover over the last year is calculated as:

Absolute increase in turnover x 100/turnover of the last year

The correct answer is option 1-  Absolute increase in turnover x 100/turnover of the last year.

The percentage increase in turnover over the last year is calculated using the following formula:

Percentage increase = Absolute increase in turnover/ Turnover of the last year x 100.

The percentage increase in any item is calculated as follows- Absolute Increase or Decrease /Previous Year Absolute Figure x 100.