BUSINESS MATHEMATICS

Course
Code:
Marks: 100 Credits: 4 Credit Hours: 60
Course Title: BUSINESS MATHEMATICS
1. Number System: Introduction, Prime, Rational and Irrational numbers, even and odd
numbers and their properties. Imaginary and complex numbers; sequence, series, Divergence
of a sequence, sigma notation. Sum of natural numbers.
2. Indices and Logarithms: Indices, laws of indices, positive and fractional indices, operation
with power functions. Introduction, Laws of operations, use of logarithm tables, Anti-
logarithm, Exponential series, logarithmic series.
3. Theory of Sets: Different types of sets, union, difference intersection, Cartesian products,
Venn diagram, Application in business problems.
4. The Straight Lines, Linear Equations and Inequalities: Different forms of Equations-
Parallel and perpendicular form of Equations-Point of intersection of lines-Interpretation of
Slope of different business problems and Marginal Concept analysis, Solution of linear
equations, solution of simultaneous linear equations. Identities and Inequalities and their
solutions. Graphical representation of solution sets. Determination of Breakeven Point having
linear relationship among the variables.
5. Quadratic Equations: Relationship between roots+- and coefficients of a quadratic
equation, Nature of roots. Solution of quadratic equations, formation of quadratic equations
with given roots. Curve sketching of different linear and non linear equations.
6. Binomial theorem: Expansion of binomial terms with positive integral index –
Determination of general term and middle terms of a Binomial expansion and exponential
expansion.
7. Permutations and Combinations: Fundamental principles of permutations, permutations of
things, all different and things, not all different, repeated and circular permutations.
Combinations, relationship between permutation and combinations.
8. Progression: Introduction, Sum of Series in AP and GP, Use of concept of progression to
find the present value and future value, Business problem solution.
9. Mathematics of Finance: Introduction, Annuities, Sinking Fund, Discount, Compound
interest, Simple interest, Amortization.
10. Matrices & Determinants: Introduction, types of matrices, operation on matrices. Solution
of simultaneous linear equations. Introduction, properties of determinants, operations on
determinants. Expansions of determinants Sarrus diagram and Crammers rule and use in
business.Leontiff input-output model analysis. Application to business problem.
11. Differentiation, Integration & Use in Business Problems: Differentiation of Algebraic
functions, transcendental function. Definition of transcendental functions-Geometric
interpretation of dy/dx and marginal concept analysis. Introduction, Different rules of
integration, Indefinite and Definite integral, calculation of area of irregular curves and figures
- Analysis of total concept by integration, Determination of maxima and minima of different
functions using differentiation rules. Business problem solution. Conditions of maxima and
minima, Test for maxima and minima. Point of inflexion.
Books Recommended:
Gordon D. Prichett and John C. Saber, Mathematics with Application in Management and
Economics, 7th Edition, Irwin, USA.
Reference Books:
1. Sanchetti, D. C. and V. K. Kapoor: Business Mathematics. Published by S. Chand and
company Ltd.
2. Ann J. Hughes, Applied Mathematics for: Business, Economics and the Social Sciences,
Latest Edition, Irwin, USA.