Total demand for a commodity is 1000 tonnes in time T. The carrying cost is Rs 20 per tonne of stock during time T, and the order cost is Rs 2 per order. Find out: (a) The EOQ and the number of...

Total demand for a commodity is 1000 tonnes in time T. The carrying cost is Rs 20 per tonne of stock during time T, and the order cost is Rs 2 per order. Find out:

(a) The EOQ and the number of orders. How long will a particular order of inventory last?

(b) The EOQ if the order cost comes down to Re 1.