BUSINESS MATHEMATICS

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BUSINESS MATHEMATICS

Post  Admin on Fri Apr 24, 2009 12:29 pm

[color:a93c=dark blue]BUSINESS MATHEMATICS DEFINED :

"Business Mathematics" includes mathematics courses taken at an undergraduate level by business students. These courses are slightly less difficult and do not always go into the same depth as other mathematics courses for people majoring in mathematics or science fields. The two most common math courses taken in this form are Business Calculus and Business Statistics. Examples used for problems in these courses are usually real-life problems from the business world.

Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting inventory management sales forecasting and financial analysis. Another meaning of business mathematics is commercial math or consumer math, a group of practical subjects used in and everyday life.


BUSINESS MATHEMATICS, DEFINITION & USE IN EVERYDAY LIFE :

In real life these mathematical calculations help in understanding various business problems like calculations of price markups, discounts, payrolls, mortgages, account checking etc. You can understand how to maximize your profits and minimize your costs after knowing linear programming. The questions are given in scenario form and you handle them like real business problems. In this way your quantitative analytical skills are also improved. Business Mathematics is therefore, became an important course of business studies.

Mathematics finds use in the daily life of many people. This could be for mundane household tasks, or as part of a profession. Here is a small list:

Balancing a checkbook
calculating expenses
maintaining a family budget
maintaining a business budget
measuring a space for adding/rearranging furniture
measuring wood to be cut in a building project
measuring steel to be placed in a construction project
surveying land
measuring pipe for a number of uses including sewer, conduit, water, etc.

Mathematics is very useful in our daily lives ,because you need to be able to tell if someone is cheating you financially, you need to be able to count your money,your age,how much you wish to spend on anything,if you have the correct change in order not to be short changed on anything,math is important in all aspects of life and living.
Basic maths is a must ...arithmetics in daily life where all forms of counting is needed .More complicated maths like say geometry forms a foundation for a variety of professions .Where do u think there exists life without any form of maths ?

How much money you have? To answer this you require maths rule. How much marks you obtain in your exams requires maths rules. And many, many more!


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WHOLE NUMBERS AND DECIMALS

Post  Admin on Fri Apr 24, 2009 12:36 pm

WHOLE NUMBERS AND DECIMALS
Difference between numbers and numerals
• Number is an idea while numeral is the symbol for numbers. So, if you think about 2 pairs of shoes, 4 kilos of chicken, 12 gallons of ice cream, 60 students in a classroom, 2 million people in EDSA, etc. these numbers mentioned give you an idea of how many pairs of shoes, kilos of chickens, etc. are there. You use numbers to give you how many do you expect to buy, get or see. But the moment you write them down, 2, 4, 12, 60, 2,000,000, etc., these written digits are called numerals.


These numerals may be expressed in words. In our everyday life, sometimes we need to write them in words. Like, when we sign up a check. The amount in words and numerals are written on the face of a check. What more, when you write a formal letter, or a document, you write first the amount in words then parenthetical, the numerals, immediately after.

FOR YOUR EXERCISES, PLEASE WRITE 1-100 IN WORDS. 1,000,000 IN WORDS, 1,000,000,000 IN WORDS, UP TO 1,000,000,000,000. In Business Mathematics, the highest number we can go is only up to trillions. But we spell other higher periods this way, quadrillion (preceding numerals indicate number of zeros) ...


15quadrillion
18quintillion
21sextillion
24septillion
27octillion
30nonillion
33decillion
36undecillion
39duodecillion
42tredecillion
45quattuordecillion
48quindecillion
51sexdecillion
54septendecillion
57octodecillion
60novemdecillion
63vigintillion
(66 - undecillion) etc.



Look here, and notice some observations like (a) we capitalize the first numeral, (b) we write a comma, every after each period of numbers (thousands, millions, billions, trillions, etc.) as we put comma when we write them in numerals! (c) we put a hyphen when writing 2 digit-numerals like 21, 34, 49, 53, 68, 77, 82 and 96, twenty-one, thirty-four, forty-nine, fifty-three, sixty-eight, seventy-seven, eighty-two and ninety-six, (d) in writing decimal fraction, we write the and to represent the dot /./ that separates the whole numbers from the decimal fractions, (e) when we write the numerals in decimal form, we write the numeral in words adding -ths at the end, if number is more than one, if only one just add -th:

1. One hundred twenty-three (123) (twenty-three is hyphenated)
2. Forty-two thousand, six hundred one (42,601)
3. Twenty million, five hundred eighty-seven thousand, six hundred ninety-five (20,587,695)
4. Thirty-two and two tenths (32.2)
5. Two hundred seventy-three and eighty-four hundredths (273.84)
6. Three hundred forty million, six thousand, nine hundred sixteen, and one thousand five hundred twenty-one ten thousandths (340,600,916.1521)
7. One hundred twenty billion, ninety million, eight hundred thousand, thirty and one tenth (120,090,800,030.1)


PLACE VALUE CHART :
REMEMBER THOSE TIMES WHEN WE WERE YET SO YOUNG, DURING OUR ELEMENTARY DAYS? We use the place value chart pockets!




Decimals are useful in math when trying to express measurements that are expressed in tenths, hundredths or thousandths. Analyze decimal places, up to a certain point, with help from a math teacher in this free video on using decimals in math.
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Table 1 Place Value Chart


Hundred trillions, Ten trillions, trillions,
Hundred billions, Ten billions, billions,
Hundred millions, Ten millions, millions,
Hundred thousands, ten thousands, thousands,
Hundreds, tens, ones
and
tenths, hundredths,
thousandths, ten thousandths, hundred thousandths,
millionths, ten millions, hundred millionths,
billionths, ten billionths, hundred billionths,
trillionths, ten trillionths, hundred trillionths,
etc.

EXERCISES :

A. Write in Numerals :
1. One thousand one and one tenth;
2. One hundred one million, twenty-seven and ninety-seven hundred trillionths;
3. One thousand sixty-eight trillion, three thousand eight hundred eleven billion, five thousand three hundred seventy-seven million, five hundred ninety-nine, three thousand eight hundred thriteen and eighty-seven hundred thousandths;
4. Forty-eight and one hundred eighty-four trillion, nine hundred sixty seven billion, two hundred fifty-one million, five hundred thirty-nine thousand, two hundred thirty-nine thousand trillionths.

B. Write in Words :
1. 345.000001
2. 3,459.23456
3. 97.34567
4. 203,001,020,002.0000000000012

C. Prepare a place value chart that will show hundred thousand value numerals and hundred thousandths decimal fraction, write it down in both numerals and in words!

ARE YOU READY FOR A QUIZ?


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ROUNDING OFF NUMBERS

Post  Admin on Fri Apr 24, 2009 12:38 pm

ROUNDING OFF NUMBERS
Rules:
1. Determine the unit to round off. A number can be rounded on the nearest tenth, nearest thousandth, nearest ten, nearest hundred, etc.
2. Look at the digit next to (directly to the right of the unit you are rounding off to.
a. if the digit to be dropped off is less than 5, let the digit to be retained remain as it is.
b. If the digit to be dropped off is 5 or more, add 1 to the digit to be retained. Replace all the digits to be dropped with zeros.
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FUNDAMENTAL OPERATIONS - Addition

Post  Admin on Fri Apr 24, 2009 12:45 pm

ADDITION - is a process of summing up or combining similar numbers or quantities which are dissimilar, cannot be added except by one unit will be converted to the other unit.
Addends – numbers to be added
Sum/Total – answer or result




SOME EXERCISES WILL BE GIVEN TO YOU VIA EMAIL EXCHANGES, THANK YOU.
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Re: BUSINESS MATHEMATICS

Post  rhiza on Fri Jun 19, 2009 5:51 pm

2. Adding by the Accountant’s Method
The sum of each column are written in a ladder form and then added to get the final answer



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Re: BUSINESS MATHEMATICS

Post  rhiza on Fri Jun 19, 2009 6:01 pm

3. Adding by Sub-total Method
The addends are grouped into 3, 4, 5 or 6 at a time depending on individual’s ability to perform addition.



• Repetition
-Check your addition by the same method that you used.
• Reverse - order check
-Check your answer by adding each column upward


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Re: BUSINESS MATHEMATICS

Post  rhiza on Fri Jun 19, 2009 6:04 pm

4. Casting out 9’s
This is done by eliminating or subtracting nine/s from the sum of the digits number



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Re: BUSINESS MATHEMATICS

Post  rhiza on Fri Jun 19, 2009 6:09 pm

SUBTRACTION
-is the process of determining the difference between two numbers.
Subtrahend – the number to be subtracted
Minuend – the number from which we subtract
Difference – the answer or result that we got.
There are some cases in which the digits in the subtrahend are greater than the digits in the minuend. In case like this, we borrow 1 unit from the left digit.



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Re: BUSINESS MATHEMATICS

Post  rhiza on Fri Jun 19, 2009 6:12 pm



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Re: BUSINESS MATHEMATICS

Post  rhiza on Fri Jun 19, 2009 6:16 pm



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:09 pm

1. The Commutative Law – states that changing the order of the factors does not affect the product



2. The Associate Law – states that factors may be grouped without affecting the product.



3. The Distributive Law – states that the multiplier must be made to operate to each term of the sum or difference



4. The Identity Element – states that any number multiplied by 1 is equal to itself



5. The Zero Principle – if a number is multiplied by zero, the product is always zero.



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:16 pm



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:19 pm



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:22 pm

Shortcuts
1. When a number is multiplied by 10; 100; 1,000 to move the decimal point of the given number to as many places to the right as there are many zeros in the multiples of 10. We suffix zeros as needed.



2. In multiplying a number by 0; 1; 0.01; 0.001…., move the decimal point in the multiplicand to the left as many places as there are decimal places in the multiplier.



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:24 pm

3. In multiplying a number by 1 more than the multiples of 10 (11, 101, 1001….), we follow the rule in multiplying by multiples of 10 and then add the multiplicand to the result.



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:25 pm

4. In multiplying a number by 5, move the decimal point 1 place to the right then divide by 2 since 5 is ½ of 10.




5. In multiplying a number by 25, move the decimal point two places to the right, and divide it by number 4 since 25v is ¼ of 100



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:48 pm

6. In multiplying a number by 9; 99; 999…., move the decimal point as many nines in the multiplier to the right then subtract the multiplicand from the result.



7. When multiplying the same numbers ending in 5, write 25 (5 x 5) as the last digits of the product, replace the remaining digit of the multiplicand by one greater than itself and multiply with the remaining digit in the multiplier, then affix to 25.



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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 5:58 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Mon Jul 06, 2009 6:00 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Wed Jul 08, 2009 5:20 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Wed Jul 08, 2009 5:22 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Wed Jul 08, 2009 5:24 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Wed Jul 08, 2009 5:27 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Wed Jul 08, 2009 5:32 pm

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Re: BUSINESS MATHEMATICS

Post  rhiza on Wed Jul 08, 2009 5:34 pm

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Re: BUSINESS MATHEMATICS

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