A company's CEO discusses the fund allocation with the CFO. This year the fund for new product development has increased by one third of the fund allocated last year. Last year ₹ 20,00,000 was allotted for various activities including product development that amounts to 30% of the activities. How much money is the CFO allocating for product development this year?

A

₹ 8,00,000

B

₹ 10,00,000

C

₹ 12,00,000

D

₹ 6,00,000