MAT111

COURSE DESCRIPTION

The course is primarily designed to strengthen the fundamental concepts of mathematics with emphasis on business application and problem solving.

COURSE OUTCOMES

At the end of the course, students should be able to:

1) Describe fundamental concepts of algebra related to business mathematics. (C2)

2) Demonstrate interpersonal skill in solving related problems in business mathematics. (A3)

3) Solve problems related to business mathematics. (C3)

Chapter 1 : Fundamental Concepts Of Mathematics

• Introduction to arithmetic operations

• Linear Equations

• Fractions, decimals, ratios and percentages

Chapter 2 : Simple Interest and Bank Discount

• Simple interest and bank discount

• Present Value, rate and time

• Applications of simple interest and bank discount

Chapter 3 : Compound Interest

• Compound Interest and compound amount

• Present value

• Applications of compound interest

Chapter 4 : Installment Purchases

• Flat rate loan (original balance)

• Reducing balance loan

• Installment purchase

Chapter 5 : Mathematics of Trading

• Trade discount

• Single discount equivalent

• Cash discount

Chapter 6 : Mathematics of Retailing

• Mark up and mark down

• Gross profit, net profit and break even price

References

1. Sheela Kannan, Business Mathematics and Statistics, Full Marks, 2019, ISBN: 9789389088083

2. Jeffrey Slater, Sharon M. Wittry, Math for Business and Finance: An Algebrac Approach, 2nd, McGraw-Hill Education, 2018, ISBN: 9781260092516

3. Gary Clendenen, Stanley A. Salzman, Business Mathematics, 14th, Pearson, 2019, ISBN: 9780134697130

4. Raymond A. Barnett, Ziegler Michael R., Byleen Karl E., Stocker Christopher J., Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences, 14, Pearson, 2018, ISBN: 9780134675985