A financial literacy house buys 72,000 reams of a special type paper per annum at a cost of ₹90 per ream. Ordering cost per order is ₹500 and the carrying cost is 5% per year of the inventory cost. Normal lead time is 20

A financial literacy house buys 72,000 reams of a special type paper per annum at a cost of ₹90 per ream. Ordering cost per order is ₹500 and the carrying cost is 5% per year of the inventory cost. Normal lead time is 20 days and safety stock is nil. Assume 300 working days in a year. You are required to Calculate the economic order quantity (EOQ);