Business Mathematics

Fundamental concepts and uses of algebra; Law of Indices; Concept and types of functions; Linear and quadratic equations; Concepts and simple problems in Arithmetic Progression, Geometric Progression & Harmonic Progression.

Fundamental concepts and uses of Set Theory; Representation of Set and Subset; Set operations; Venn diagram; De-Morgan’s Laws, Applications of Set theory in business.

Fundament concepts and uses of the matrix; Types of matrices; Algebra of matrices; Determinants and its properties; Adjoint of a matrix; Finding the inverse of a matrix; Rank of a matrix; Solution of a system of linear equations by Cramer‘s Rule and Matrix Inverse Method (including not more than three variables).

Different types of interest rates; Concept of present value and amount of a sum; Types of annuities; Present Value and amount of an annuity including the case of continuous compounding; Valuation of simple loans and debentures; problems relating to Sinking Funds.

Concept and uses of probability; Types of probability; Conditional probability and Bayes’ theorem; Simple problems based on addition and multiplication theorems of Probability.