An Overview of the Topics Covered in Business Mathematics

Business mathematics is a stream that involves mathematical concepts connected to business functions. It's important to note that business math exceeds the general cost, profit and loss or the concept of interest. Working with a Radius of Convergence Calculator can help you with Business Maths. 

Business requires knowledge of a vast field. It exceeds product manufacturing and service distribution. An established firm should maintain its capital funds and strategize for future survivability. Corporate mathematics also plays a vital role in this process, with advice from a personal finance expert.

Business mathematics's main scope is controlling financial activities and similar economic operations. Some of the topics in business mathematics requiring a Standard Deviation Calculator with Steps are – financial analysis, cash flow management, risk analysis, revenue and payroll and more.

Essential topics in Business Mathematics

Let's look at some of the most important topics you must cover in Business Mathematics.

1. Credit


2. Loans


3. Insurance


4. Depreciation


5. Annuities


6. Statements of Financial Position


7. Factor of Discount


8. Values of the Future and Present


9. Taxes and Tax Legislation


10. Markups and markdowns  

Aside from these prime topics, Business math also includes introductory chapters on customer relationship management to help you with the following aspects –

1. Arithmetic

• Basic ratio and proportion


• Simple and Compound Interest with Annuity application


• Bill Discounts and Average Due Date.


• Basic application of Mathematical Reasoning

1. Algebra

• Fundamental Set Theory and Venn Diagram application


• Basics of Variation, Indices and Logarithms


• Permutation and Combination


• Simultaneous Linear Equations


• Quadratic Equations


• Determinants and Matrices

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• Calculus

• Constants and Variables, Functions, and Limit & Continuity


• Differentiation, Differentiability and Partial Differentiation.


• Definite Integrals


• Indefinite Integrals


• Derivatives


• Maxima and Minima

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1. Statistics

• Probability


• Index Numbers


• Theoretical Distribution


• Time Series Analysis


• Correlation and Regression


• Statistical Representation of Data


• Measures of Central Tendency and Dispersion

Statistics is another crucial chapter in Business Mathematics. So, you should familiarize yourself with its basic concepts and mathematical calculations.  

Conclusion

Business mathematics is a vast field, and students working on it might require a law case study writing help to solve its problems. But, first, students should start working and choose their topics wisely to complete their syllabus on time.

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