While preparing Comparative Statements. What will be the percentage increase or decrease in revenue from operations if the amount in the year 2021-22 was ₹40,00,000 and the was 50,00,000 in year 2020-21?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 20% Decrease
Percentage Change = (New Value - Old Value/ Old Value) × 100
Percentage Change = (Change in value/ Old Value) × 100
Percentage Change = (50,00,000 - 40,00,000/ 50,00,000) × 100
= 10,00,000/50,00,000 x 100
= 20% decrease