Correct Answer - Option 1 : Rs. 70,000

**Given:**

The selling price of a bike at a profit of 60% is Rs. 60000.

**Formula used:**

Cost price = {(Selling Price)/(100+Profit)} × 100

**Calculation:**

Cost price of bike,

Cost price = {(Selling Price)/(100+Profit)} × 100

⇒ (80,000/160) × 100

⇒ Rs. 50,000

The selling price of the bike, when we sold at 40% profit,

⇒ 50,000 × (140/100)

⇒ Rs. 70,000

**∴**** The Selling price of the bike at 40% profit is Rs. 70,000.**