John buys four old tractors for Rs 2 lakh. He spent a total of 3 lakhs in the maintenance and repair of these four tractors. If he already sells one tractor out of four tractors for Rs. 1 lakh, then what is the average selling price of the remaining 3 tractors to get 40% total profit?

A. ₹ 1.5 lakh

B. ₹ 1.2 lakh

C. ₹ 2 lakh

D. ₹ 2.3 lakh