INTRODUCTION
The course is designed to understand and acquire knowledge and skills in Basic Mathematics for solving
business problems.
COURSE OBJECTIVES
To provide practice in the handling of business problems that deal with day-to-day transactions
encountered by business administrators.
To use the results of mathematical calculations to help evaluate various options in reaching
financial decisions, whether personal or business-related.
Upon completion of the course the students will be, familiarized with the nature of business
problems and Able to analyze and take business decisions in day to day transactions.
UNIT I: (CO1, CO2, CO3, CO4, CO5, L1, L2, L3, L4, L5, L6)
Basic Mathematics - Theory of Indices: Definition, types of indices, properties of indices, basic
problems on indices. Equations: Types of equations, solving linear simultaneous equations and
Quadratic equations with one variable. Permutations and Combinations: Definition, basic problems on
permutations and combinations.
UNIT II: (CO1, CO2, CO3, CO4, CO5, L1, L2, L3, L4, L5, L6) Matrix Algebra - Definition, types of
matrices, Scalar Multiplication of Matrix, Equating of Matrices, Matrix operations: Addition,
Subtraction and Multiplication; Transpose of Matrix, Determinant of matrix, Inverse of Matrix, Solving
of Equations by Cramer’s Rule, Matrix Inversion method, Rank of Matrix.
UNIT III:(CO1, CO2, CO3, CO4, CO5, L1, L2, L3, L4, L5, L6) Elementary Calculus -
Differentiation: Definition, rules of differentiation, logarithmic differentiation, partial differentiation
of first and second order, maxima & minima. Integration: Definition, some standard rules of integration,
integration by substitution, integration by parts.
UNIT IV:(CO1, CO2, CO3, CO4, CO5, L1, L2, L3, L4, L5, L6) Application of Calculus - Elasticity
of demand, Average revenue, Marginal revenue, Average cost, Marginal cost, Total cost, Consumer’s
surplus, Supply curve of short period and long period in perfect competition, Maximum revenue,
Minimum Cost.
UNIT V:(CO1, CO2, CO3, CO4, CO5, L1, L2, L3, L4, L5, L6) Mathematics of Finance - Simple
interest, Compound interest, Annuity, Concept of present value and amount of sum types of annuities,
present value and amount of an annuity including the cases of continuous compounding, problems
relating to sinking fund.
Problems will be given from all the units.