The figure of merit is the largest for the length of the rod.
The maximum value of Y that can be determined is 10¹⁴ N/m².
ΔY/Y gets minimum contribution from the uncertainty in the length.
ΔY/Y gets its maximum contribution from the uncertainty in strain
Y = Fl/πr²Δl = (50 × π × 10³ × 1) / (π × (0.005)² × 0.01 × 10⁻³) = 2 × 10¹⁴ N/m²