Mathematics · Inventory Control
A company orders gears in conditions identical to those considered in the economic order quantity (EOQ) model. The annual demand is 8000 gears, the cost per order is ₹300, and the holding cost is ₹12 per month per gear. If the company uses an order size that is 25% more than the optimal order quantity, what is the percentage change in the total cost of ordering and holding inventory compared to the optimal cost?
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