Joe Biden an entrepreneur started a business producing Personal Protection Equipment (PPE Kit) which is specialized clothing or equipment worn by an employee for protection against infectious materials. In the year 2020 he sold 1200 PPE Kits at the rate of ₹500 each. His cost of placing an order and receiving the PPE Kits is ₹1000 per order. If the Economic Order quantity is 200 PPE Kits, find out the inventory holding cost per year.

₹60 ₹ 38 ₹ 65 ₹ 70

₹60