A car mechanic purchased four old cars for Rs. 1 lakh. He spent total 2 lakh in the maintenance and repairing of these four cars. What is the average sale price of the rest three cars to get 50% total profit if he has already sold one of the four cars at Rs. 1.2 lakh?

1.5 lakh
1.1 lakh
1.2 lakh
1.65 lakh

Correct Answer: 1.1 lakh

Explanation:

Total cost of 4 cars = 1 + 2 = 3 lakh
Total SP of 4 cars = 3 x 1.5 = 4.5 lakh
SP of first cars = 1.2 lakh
SP of rest 3 cars = 4.5 - 1.2 = 3.3 lakh
Average SP of all the 3 cars = 1.1 lakh

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