BUSINESS MATHEMATICS

Course Objectives:

1. To provide students with an understanding of the basic mathematical techniques used in

business through application of techniques rather than its theoretical aspect.
2. Equip them with mathematical skills and knowledge that can be applied to solve financial
problems

One-Variable Equations
 Solution of First and Second Degree Equations in One Variable

Linear Equations
 Algebraic and Graphical Characteristics
 Slope-Intercept Form
 Determining the Equation of a Straight Line
 Linear Equations Involving More Than Two Variables
Systems of Linear Equations
 Two, Three and n-variable systems and their graphical and algebraic solutions
Mathematical Functions
 Definition, Types and Graphical Representation of Functions
 Linear Cost, Revenue and Profit Functions

Mathematics of Finance
 Interest and its Computation
 Single Payment Computations
 Annuities and Their Present/ Future Value
 Cost Benefit Analysis
Matrix Algebra
 Introduction, Simple and Special Types of Matrices
 Basic Matrix Operations
 The Determinant
 Inverse
 Solution of System of Linear Equations using Matrices
Differentiation
 Limits: Properties and Continuity
 Average Rate of Change
 The Derivative
 Differentiation
 Higher Order Derivative
Optimization
 Identification of Maxima and Minima
 Application on Revenue, Cost, and Profit Sequence, Series and Progression
 Sequence, Series and Progression: Introduction and Comparison thereof
 Arithmetic Series and its application in business
 Geometric Series and its application in business

Recommended Book:
 Frank S. Budnick, ―Applied Mathematics For Business, Economics,and Social Sciences,
4th Edition, 1993, McGraw-Hill Inc.
 Charles D. Miller, Stanley A. Salzman, and Gary Clendenen, ―Business Mathematics, 11th
Edition, 2009, Addison-Wesley
 Glencoe ―Mathematics with Business Applications, Student Edition, 2006, McGraw-Hill