Quantitative Aptitude Profit and Loss Successive Selling

A trader buys 60 bags of grain at Rs. 400 each. If he sells 18 bags at 8% profit, at what price should he sell the remaining bags to make 16.4% overall profit on selling the 60 bags?

1

Rs. 480

2

Rs. 500

3

Rs. 540

4

Rs. 520

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