Final answer:
Substance 'X' is acetic acid, 'Y' is ethanol, and 'Z' is ethyl acetate, resulting from the esterification reaction. Ethyl acetate hydrolyzes back to sodium acetate and ethanol upon treatment with caustic soda.
Step-by-step explanation:
The compound 'X' with a vinegar-like smell is likely to be acetic acid (CH3COOH), while the substance 'Y', which is used as an industrial solvent and reacts to give a sweet-smelling liquid 'Z', is possibly ethanol (C2H5OH). The reaction described is an esterification reaction where a carboxylic acid (acetic acid) reacts with an alcohol (ethanol) in the presence of an acid catalyst (concentrated sulfuric acid) to form an ester (ethyl acetate) and water:
CH3COOH + C2H5OH → CH3COOC2H5 (ethyl acetate) + H2O
The ester 'Z' would therefore be ethyl acetate (CH3COOC2H5), which has the molecular formula C4H8O2. When 'Z' is heated with caustic soda (NaOH), a hydrolysis reaction occurs that gives back the sodium salt of acetic acid (sodium acetate) and ethanol.
CH3COOC2H5 + NaOH → CH3COONa + C2H5OH