BUSINESS MATHEMATICS
Semester: I Course Code: 12BB11C1
Unit I: Fundamentals of Functions: (Hours 15)
Introduction โ Basic Concepts โ Functions or Mappings - Types of Functions โ Linear Function
โ Constant Function โ Quadratic Functions โ Exponential Functions โ Homogeneous Functions โ
Business and Economic Functions such as Demand, Supply, Total, Revenue, Average Revenue,
Total Cost, Average Cost and Profit Functions.
Unit II: Graphical Representation of Functions and Limits: (Hours 10)
Meaning of the Graph of a Function โ Meaning of the equation of a curve โ Straight Line โ
Slope of line passing through two given points โ Intersect form of a straight line โ Graphs of
different types of functions - Concept of Limit โ Theorems of Limits (Without Proofs) โ
continuity of a function
Unit III: Derivatives and their Applications: (Hours 15)
Concept of Differentiation โ Some important theorems (Without Proofs) - Derivatives of
Functions โ Rules of Derivatives โ Second order Derivatives โ Application of Derivatives โ
Marginal Cost โ Marginal Revenue โ Elasticity of Demand โ Maxima and Minima for functions
in Economics and Business โ Integration of simple Functions โ Present value and future value of
continuously compounded Annuity.
Unit IV: Elements of Matrix Algebra: (Hours 12)
Introduction โ Types of Matrices โ Scalar Multiplication of a Matrix โ Equality of Matrices โ
Matrix operations โ Transpose of a Matrix โ Determinants of a Square Matrix โ Inverse of a
Matrix โ Solutions of Simultaneous equations with the inverse of a Matrix โ Rank of a Matrix.
Unit V: Introduction to Financial Mathematics: (Hours 8)
Progressions โ Arithmetic Progressions โ Geometric Progressions and sums of their first n terms
โ Problems with Business applications - Simple Interest โ Compound Interest โ interest
compounded more than once a year nominal, effective and continuous rates of interest โ
Immediate (ordinary) annuity, its present value and future value - Equated Monthly Installments
(EMI) using reducing interest system amortization of loans โ Sinking fund โ Depreciation of
Assets.
Text Book:
1. D.C.Snacheti & V.K.Kapoor , Business Mathematics, Sultan Chand & Sons , 2005, 7th
Edition, New Delhi
Reference Books:
1. Alpha Chiang, Mathematics for Economists, Tata Mc.Graw-Hill, 2009, 10th Edition, New
Delhi
2. Taro Yamane, Mathematics for Economists, Prentice Hall of India Pvt Ltd, 2008, 2nd Edition,
New Delhi
3. J.D.Gupta, P.K.Gupta & Man Mohan , Mathematics for Business and Economics, Tata
McGraw Hills, 2005, 4th Edition, New Delhi
4. K.B.Akhilesh & S.Subrahmanyam, Mathematics and Statistics for Management, Vikas
Publication, 2009, 2nd Edition, New Delhi
