Home › Previous year questions › GATE 2023 PI › Question 51GATE 2023 PI – Question 51 Operations Research and Operations Management · Production Control · 2 marks · Numerical answer
Product P has annual demand 2500 units, ordering cost ₹60/order and annual holding cost ₹30/unit. Q has demand 3600, ordering cost ₹80 and holding cost ₹40. Find EOQ(P)/EOQ(Q) to two decimals.
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Show answer and explanation Correct answer: 0.82 to 0.84
Explanation $EOQ=\sqrt{2DS/H}$. Thus P gives $\sqrt{2(2500)(60)/30}=100$ and Q gives $\sqrt{2(3600)(80)/40}=120$. Ratio = 100/120 = **0.83**.
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