THE INSTITUTE OF FINANCE MANAGEMENT

DEPARTMENT OF MATHEMATICS AND ACTUARIAL STUDIES

BUSSNESS MATHEMATICS
BAIT, BAC, BBF, BTX
MTU 07101, ACU 07106, BFU 07103, TMU 07117
ASSIGNMENT

INSTRUCTION
1. Write your full name, registration number, program and stream on cover page
2. This is a group work of exactly 6 members only
3. Don’t type the work, use A4 papers
4. Submission deadline : 15th January 2024 on 10:00 am ( office No. 520, Block A)
5. Collect your work to class representative (CR’S) on time

QUESTION ONE

The following Matrix gives the number of units of three product ( M, N and O) , that can be
processed per hour on three machines ( I, II and III)

I II III
𝑀 10 12 15
𝑁 (20 11 20)
𝑂 16 18 14

Determine by using matrix algebra, how many units of each product can be produced, if the
hours available on machine I, II and III are 50, 40 and 42

QUESTION TWO

Jenny, John and Peter have Tsh 80, Tsh 140 and Tsh 130 respectively. They utilized the amount
to purchase three types of share of prices 𝑥, 𝑦 and 𝑧 respectively. Jenny purchases 10 share of
price 𝑥, 20 of price 𝑦 and 10 of price 𝑧. John purchase 20 share of price 𝑥, 30 of price 𝑦 and 20
of price 𝑧, Peter purchase 30 share of price 𝑥, 20 of price 𝑦 and 20 of price 𝑧. Find 𝑥, 𝑦 and 𝑧
using matrix inversion method
QUESTION THREE

The ABBY Bakery Ltd. produces three basic pastry mixes A, B and C. In the past the mix of
ingredients has been as shown in the following matrix

Flour Fat Sugar

A 5 1 1
Type B 6 2 2
C 4 3 2

(All quantities in kilogram weight)

Due to changes in consumer tastes it has been decided to change the mixes using the
following amendment matrix:

Flour Fat Sugar

A 0 1 0
Type B -1 -1 -1
C 1 0 0

Using matrix algebra calculate:

i) the matrix for the new mix
ii) the product requirement to meet an order for 50 units of type A, 30 units of type B
and 20 units of type C of the new mix
iii) the amount of each type that must be made to totally use up 3500 kgs of flour, 1000
kgs of fat and 800 kgs of sugar that are at present in the stores (use matrix inversion
method)