Question

A firm places an order for a particular product at the beginning

of each month and that product is received at the end of the

month. The firm sells during the month from the stocks and it

can sell any quantity.

The prices at which the firm buys and sells vary every month.

The following table shows the projected buying and selling prices

for the next four months:

Month Selling Price (Rs) Purchase Price (Rs)

(During the Month) (Beginning of the Month)

April – 75

May 90 75

June 60 60

July 75 –

As on April 1 the firm has no stocks on hand, and does not

wish to have any stocks at the end of July. The firm has a

warehouse of limited size, which can hold a maximum of 150

units of the product.

Formulate this problem as an LP model to determine the

number of units to buy and sell each month so as to maximize

the profits from its operations. ​

Answer 1

Answer:

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