Course Title: Business Mathematics
Code No: FO 111
Area of Study: Foundation
Course Objectives: This is a foundation course to acquaint the students with fundamentals of mathematics and
its application in business decision making
Unit 1: Set Theory LH 5
Review on the following: Set and Set Membership, Inclusion Relation and Equality of Sets; Universal Set;
Finite and Infinite Sets. Set Operations: (Union, Intersection, Difference, Compliment and Symmetric
Difference). Fundamental Laws of Set Operations; Partition of Set; Cartesian Product of Sets, Cardinal Number
of Finite Set and Related Problems.
Unit 2: Matrix and Determinants LH 7
Matrix, Special Types of Matrices, Addition of Matrices, Multiplication of Matrix by Scalar and Matrix
Multiplication, Determinant of Square Matrix, Determinant of Product of two Matrices, Properties of
Determinant and Related Problems, Transpose of a Matrix, Ad-joint of a Matrix, Inverse of Square Matrix,
Properties of Inverse of a Matrix, Rank of Matrix.
Unit 3: Linear Equations LH 5
System of Linear Equation, Consistent and Inconsistent System, Test of Consistency, Solution of System of
Linear Equation, Unique Solution and Infinite Solutions, Solution by Row-Equivalent Method, Inverse Matrix
Methods and Cramer’s Rule up to Three Variables.
Unit 4: Function, Limit and Continuity LH 8
Function: Construction of Functions; Linear and Quadratic Functions; Absolute Value Functions; Step
Function, Exponential Function, Logarithmic Function, Convex Set and Convex Function; Zeros of a Function;
Algebraic and Graphic Methods of Finding Zeros of Linear and Quadratic Functions, Break-Even Analysis;
Limit of a Function; Continuous Function, Monotonic Function, Inverse Function.
Unit 5: Differentiation (Excluding Trigonometric Function)LH 7
Definition of Derivative, Right-hand and Left-hand Derivative, Basic Laws of Derivative, The Chain Rule,
Derivative of Exponential and Logarithmic Function, Higher Order Derivatives, Application of Derivative.
Unit 6: Maxima and Minima Functions LH 6
Local Maxima and Minima of a Function, Global Maxima and Minima, Application of Maxima and Minima to
Business Related Problems.
Unit 7: Integration (Excluding Trigonometric Function) LH 5
Integral, Integration Formulate, Integration by Parts, Definite Integral, Application of Integration.
Unit 8: Interest and Annuities LH 5
Simple and Compound Interest, Effective Rate of Interest, Present and Future Value of Money under
Annuity: Amount and Present Value of an Annuity
M Raghavachari, Mathematics for Management: An Introduction, 2005, Tata McGraw-Hill Publishing
Company Limited, New Delhi
Shrestha, Thagurathi & Mishra, Business Mathematics, 2011 edition, Buddha Publication, Kathmandu
Frank Budnick, Applied Mathematics for Business, Economics, and the Social Sciences, 2010, Tata McGraw-
Hill Publishing Company Limited, New Delhi
Kashyap Trivedi and Chirag Trivedi, Business Mathematics, 2011, Pearson Education, India
S Rajagopalan, R Sattanathan, Business Mathematics, 2009, Tata McGraw-Hill Publishing Company Limited,