101: Business
Mathematics
Marks : 80
Objective: The objective
of this paper is to enable the students to have such minimum knowledge of
Mathematics as is applicable to business and economic situations.
UNIT-I 20
Theory of Sets:
Definitions, types of sets, operations on sets, verification of the laws of
algebra of sets, order of a set, application of sets.
Arithmetic
Progression (A.P.) and Geometric Progression (G.P.): Definition, sum of A.P.
and G.P. series, arithmetic and geometric means, application of A.P. and G.P.
in solving business problems.
Logarithm:
Introduction, laws of logarithm, logarithmic tables.
Compound Interest
and Annuities: Compound amount at changing rates, normaland effective rates of
interest, present value, equation of value, discount, depreciation, methods of
computing annual depreciation, types of annuities, present value and amount
ofan annuity, amortization of loans, sinking funds.
UNIT-II 20
Determinants and
Matrices: Determinants of second and third order, properties of determinant,
simple problems, solutions of simultaneous equations and solutions of business problems
involving simultaneous equations by Cramer’s rule, definition of matrices over real
numbers, types of matrices, matrix operations, transpose of a square matrix,
inverse of a matrix through ad joint, application of matrices in solving business
problems.
Permutation and
Combination: Permutation: fundamental principle, factorial notation,
permutation of things all different, permutation in which things may be
repeated, simple problems; Combination: Combination of things all different,
simple problems
Statement of
binomial theorem for positive integral index.
UNIT-III 10
Co-ordinate
Geometry of Two Dimensions: Idea of cartes ian co-ordinates; slope or gradient
of a line; equation of a line passing through (i) one given point, (ii) two
given points; equation of a line in slope-intercept from (y = mx+c) and
intercepts from (x/a + y/b =1); application of equations of straight lines in
solving business problems, point of intersection of two lines.
UNIT-IV 20
Calculus (Theorems and problems involving trigonometric
functions are excluded)
Differential
Calculus: Concepts of function, limit and continuity, graphs of functions,
definition of derivative, rules for differentiation, geometrical interpretation
of derivative, derivative of a function of a function, derivative as a rate
measurer, second order derivative, maximum and minimum of functions involving
one variable only, concept of partial derivative.
Integral
Calculus: Integration as anti-derivative; integration of xn, logx, ex;
rules for integration, integration by substitution and by parts, concept of
definite integral and simple problems.
Application of
calculus: Emphasis must be given on the application of calculus in solving
economic and business problems. Problems relating to production, cost, revenue,
profits, producer’s surplus, consumer’s surplus, evaluation of marginal
products in case of two factor inputs are to be treated.
UNIT-V 10
Linear
Programming (L.P.): Meaning, assumption, formulation, uses, limitation, solutions
of LPP involving two variables by graphical method.
Suggested Books:
Business
Mathematics, D.R. Agarwal, Vrinda Publications (P) Ltd.
A.
Textbook of Business Mathematics, Padmalochan Hazarika, S. Chand.
Business
Mathematics and Statistics –A.p. Verma, Asian BooksPvt. Ltd.
Business
Mathematics, J.K. Singh, Himalaya Publishing House.
Business
Mathematics, and Statistics, R.K. Ghosh, S. Saha, New Central Book Agency (Pvt.)
Ltd.
Basic
Mathematics- RGD Allen- Macmillan, New Delhi.
Mathematics
for Economics –Dowling E.T. –Schawn Series, McGraw Hill, London.
Mathematics
for Business studies –J.K. Thukural –Mayoor Paperbacks.
Mathematics
and Statistics –Goel, Ajoy and Aloka, Taxman Allied Servies (P) Ltd.
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