Explanation:

Economic Order Quantity (EOQ) is the quantity to be ordered at one time to minimize the overall variable cost i.e. total ordering cost and carrying cost.

It is calculated as:

√ 2CO/ I = √ (2 X 24000X10/ 5% X100) = √ 96000 = 310 approx

Number of orders to be placed in a year if EOQ policy being adopted = Consumption/EOQ = 24000/310 = 78 approx

Frequency of orders in a year, if EOQ policy is being adopted, is calculated as: Days in a year/Number of orders = 365/78 = 5 approx