117. A shopkeeper purchased 100 blankets at Rs. 2000 each. He found that 10 blankets were defective and he sold these at Rs. 1200 each. At what rate should he sell the remaining blankets so as to gain 14% on the whole:
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Total cost = 100 * 2000 = 200000
The question is mentioning that the shop keeper has to make a profit of 14% on the whole amount. therefore the overall profit should be 200000 *14/100 = 28000.
The total sale value should be 200000 + 28000 = 228000.
He is selling 10 blankets at 1200 each .
The equation will be 10 * 1200 + 90x = 228000
90x = 228000 - 12000 = 216000
x = 216000 / 90 = 2400
Therefore the remaining blankets will have to sold at 2400 Rupees each
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