Business Mathematics is an integral part of Quantitative Techniques. The application of mathematical techniques in various decision making areas of Business Management is increasing day by day to the changing impact of the dominant factors, i.e., cost, customers and competition.
In today’s era of changing education, all the Indian Universities have prescribed “Business Mathematics” as one of the core subject in B.Com., B.B.A., M.Com., M.B.A. and other professional degrees.
The book is organized into 14 chapters. Chapter 1 introduces the basic concepts and application of matrix algebra. In Chapter 2 the concepts of ‘Determinants’ and their uses in solving a system of linear equations have been scientifically explained.
Chapters 3, 4 and 5 deal with mathematical functions, limits and continuity. As these three chapters are the foundation of calculus, care has been taken to present in very lucid style only for easy understanding.
Chapters 6 to 9 deal with Calculus. Chapter 6 covers the basics of differential calculus which Chapter 7 deals with application of differential calculus to examine the maxima and minima of a function. Chapter 8 covers the basics of integral calculus and focuses on various techniques of integration like integration by substitution, integration by parts and integration by partial fractions. Chapter 9 highlights the applications of integration for marginal and incremental analysis of Economic functions, consumer’s surplus and producer’s surplus, rate of grown in sales and learning curve, etc.
Chapter 10 and 11 deal with mathematics of finance i.e., simple interest compound interest and annuities. Application of annuity techniques has been scientifically explained in chapter 11.
Chapter 12, 13 and 14 covers the entire basics and techniques of linear programming. Chapter 12 introduces the conceptual fundamentals of linear programming as an Operations Research Model. Chapter 13 explains the graphical method of solving a linear programming problem. Chapter 14 explains the simplex method in the style of “A mathematical power to solve any complex linear programming problem.”
This test book is specially designed keeping in mind the basic requirement of commerce and management students in Business Mathematics.
Contents –
1. Matrices
2. Determinants
3. Mathematical Function
4. Limit of a Function
5. Continuity of a Function
6. Differentiation
7. Maxima and Minima
8. Integration
9. Application of Integration
10. Mathematics of Finance : Simple and Compound Interest
11. Annuities
12. Linear Programming – An Introduction (Basic Concepts and Formulation)
13. Linear Programming – Graphical Method
14. Linear Programming – Simplex Method
Mathematical Tables
