Practical Problems in Business Mathematics & Statistics


The entire subject matter has been arranged in a systematic, graded, simple, lucid and exhaustive manner to meet the various needs of all types of learners. Each topic begins with some definitions and theory followed by solved problems so that the study leads to perfect clarity and understanding. A large number of notes and remarks have been added for a better understanding of the subject. Well-planned exercises have been given in each chapter to provide the students with an opportunity of exhaustive practice.


Matrices and Determinants: Definition of a Matrix. Types of Matrices; Algebra of Matrices; Properties of Determinants; Calculation of Values of Determinants upto Third Order, AdJoint of a Matrix, Elementary Row or Column Operations; Inverse of a Matrix. Solution of a System of Linear Equations having Unique Solution and Involving not More Than Three Variables.

Differentiation – Idea of Simple Derivative of different Functions (excluding trigonometric functions).

Maxima and Minima of Functions of One Variable only.

Statistics as a Subject; Statistical Data : Meaning and Types, Collection and Rounding of Data, Classification and Presentation of Data.

Construction of a Frequency Distribution; Concept of Central Tendency and Dispersion and Their Measures; Measures of Skewness; Concept of Kurtosis.

Meaning, Components, Models, Fitting Linear and Quadratic Trend.

IMeaning, Types, and Uses : Methods of Constructing Price and Quantity Indices (Simple and Aggregate); Tests of Adequacy; Chain-Base Index Numbers; Base Shifting, Splicing, and Deflecting; Problems in Constructing Index Numbers; Consumer Price Index.