Quantitative Aptitude Profit and Loss Successive Selling

Suraj sells a bike to Raghu at a profit of 20%. Find the selling price at which Raghu should sell the bike so that he can get a profit of 18% if Suraj bought the cycle at Rs. 30000. 

1
Rs. 40000
2
Rs. 42480 
3
Rs. 45000
4
Rs. 48500 

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