Here i preview to you all the picture off the book that i use:
Sunday, September 7, 2008
BOOK
Here I would like to share the book that I use in this subject. Down here is detail of the book:
Title: Business Mathematics For UiTM (Second Edition)
Publisher: Oxford Fajar
Writer: -Lau Too Kya
-Phag Yook Ngor
-Wee Kok Kiang
So, I hope I all of u can use this book too as your revision book. Hope all of us score in this subject.
Title: Business Mathematics For UiTM (Second Edition)
Publisher: Oxford Fajar
Writer: -Lau Too Kya
-Phag Yook Ngor
-Wee Kok Kiang
So, I hope I all of u can use this book too as your revision book. Hope all of us score in this subject.
Thursday, August 28, 2008
What is Business Math
Business mathematics
From Wikipedia, the free encyclopedia
(Redirected from Business math)
Jump to: navigation, search
This article may require cleanup to meet Wikipedia's quality standards.
Please improve this article if you can. (October 2006)
Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Mathematics typically used in commerce includes elementary arithmetic, such as fractions, decimals, and percentages, elementary algebra, statistics and probability. Business management can be made more effective in some cases by use of more advanced mathematics such as calculus, matrix algebra and linear programming.
Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.
In academia, "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.
An example of the differences in coursework from a business mathematics course and a regular mathematics course would be calculus. In a regular calculus course, students would study trigonometric functions. Business calculus would not study trigonometric functions because it would be time-consuming and useless to most business students, except perhaps economics majors. Economics majors who plan to continue economics in graduate school are strongly encouraged to take regular calculus instead of business calculus, as well as linear algebra and other advanced math courses, especially real analysis.
Other subjects typically covered in a business mathematics curriculum include:
Matrix algebra
Linear programming
Probability theory
Another meaning of business mathematics, sometimes called commercial math or consumer math, is a group of practical subjects used in commerce and everyday life. In schools, these subjects are often taught to students who are not planning a university education. In the United States, they are typically offered in high schools and in schools that grant associate's degrees.
A U.S. business math course might include a review of elementary arithmetic, including fractions, decimals, and percentages. Elementary algebra is often included as well, in the context of solving practical business problems. The practical applications typically include checking accounts, price discounts, markups and markdowns, payroll calculations, simple and compound interest, consumer and business credit, and mortgages.
The emphasis in these courses is on computational skills and their practical application, with practical application predominating. For example, while computational formulas are covered in the material on interest and mortgages, the use of prepared tables based on those formulas is also presented and emphasized.
From Wikipedia, the free encyclopedia
(Redirected from Business math)
Jump to: navigation, search
This article may require cleanup to meet Wikipedia's quality standards.
Please improve this article if you can. (October 2006)
Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Mathematics typically used in commerce includes elementary arithmetic, such as fractions, decimals, and percentages, elementary algebra, statistics and probability. Business management can be made more effective in some cases by use of more advanced mathematics such as calculus, matrix algebra and linear programming.
Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.
In academia, "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.
An example of the differences in coursework from a business mathematics course and a regular mathematics course would be calculus. In a regular calculus course, students would study trigonometric functions. Business calculus would not study trigonometric functions because it would be time-consuming and useless to most business students, except perhaps economics majors. Economics majors who plan to continue economics in graduate school are strongly encouraged to take regular calculus instead of business calculus, as well as linear algebra and other advanced math courses, especially real analysis.
Other subjects typically covered in a business mathematics curriculum include:
Matrix algebra
Linear programming
Probability theory
Another meaning of business mathematics, sometimes called commercial math or consumer math, is a group of practical subjects used in commerce and everyday life. In schools, these subjects are often taught to students who are not planning a university education. In the United States, they are typically offered in high schools and in schools that grant associate's degrees.
A U.S. business math course might include a review of elementary arithmetic, including fractions, decimals, and percentages. Elementary algebra is often included as well, in the context of solving practical business problems. The practical applications typically include checking accounts, price discounts, markups and markdowns, payroll calculations, simple and compound interest, consumer and business credit, and mortgages.
The emphasis in these courses is on computational skills and their practical application, with practical application predominating. For example, while computational formulas are covered in the material on interest and mortgages, the use of prepared tables based on those formulas is also presented and emphasized.
Wednesday, August 27, 2008
WOw
This had been teach on 30-7-2008
Formula For Calculating The Net Price For A Chain Discount
NP = L(1-r1)(1-r2)(1-r3)
Examples:
1) A television set with a catalog price of RM2500 is offered a chain discount of 30%, 10% and 5%. Calculate the net price.
From NP = L(1-r1)(1-r2)(1-r3), we get
= 2500 ( 1 – 30%) ( 1 – 10%) ( 1 – 5%)
= 2500 ( 0.7 ) ( 0.9 ) ( 0.75 )
= RM 1496.25
2) A washing machine is advertised at RM2000 less 40% and 12%
From NP = L(1-r1)(1-r2)(1-r3), we get
= 2000 ( 1 – 40% ) ( 1- 12% )
= 2000 ( 0.6 ) ( 0.88 )
= RM 1056
Single Discount Equivalent
r = 1 – r( 1- r1) (1 – r2) (1 – r3)
Example:
1) A product is advertised at RM1500 less 20%, 10% and 5%. Find
(a) the single trade equivalent
(b) the net price
From r = 1 – r( 1- r1) (1 – r2) (1 – r3), we get
(a) singe discount equivalent = 1- ( 1 – 0.20 ) ( 1- 0.10 ) ( 1 – 0.05 )
= 1 - ( 0.80 ) ( 0.90 ) ( 0.95 )
= 1 – 0.84
= 0.316
= 31.6%
(b) From NP = L(1-r), we get
= 1500 ( 1 – 31.6% )
= RM 1026
2) Find the single discount equivalent of 10% and 3%.
From r = 1 – r( 1- r1) (1 – r2) (1 – r3), we get
r = 1 ( 1 – 10% ) ( 1- 3% )
=12.7%
Cash Discount
Example:
1) Explain the cash discount terms
(a) 2/10, 1/30, n/60 (b) net 30
(a) This term means 2% of the net price my be deducted if the invoice is paid within 10 days of the date of the invoice; 1% may be deducted if the invoice is paid between 11th and 30 day; and the full amount must be paid by the 60th day. After the 60th day the bill is overdue.
(b) Net 30 means payment is due within 30 days of the invoice date.
2) An invoiced dated 10 April 2005 for RM2300 was offered cash discount term of 3/10, 2/20, n/60. Find the payment if the invoice was paid on 28 April 2005.
Since the invoice was paid 18 day after the date of the invoice, a cash of 2% was obtained. The buyers did not gets the 3% cash discount as the invoice was not paid within the 3% discount period within of 10 day
Net payment = net price – cash discount
= 2300 – ( 0.02 x 2300 )
= RM2254
The amount of payment was RM2254.
Formula For Calculating The Net Price For A Chain Discount
NP = L(1-r1)(1-r2)(1-r3)
Examples:
1) A television set with a catalog price of RM2500 is offered a chain discount of 30%, 10% and 5%. Calculate the net price.
From NP = L(1-r1)(1-r2)(1-r3), we get
= 2500 ( 1 – 30%) ( 1 – 10%) ( 1 – 5%)
= 2500 ( 0.7 ) ( 0.9 ) ( 0.75 )
= RM 1496.25
2) A washing machine is advertised at RM2000 less 40% and 12%
From NP = L(1-r1)(1-r2)(1-r3), we get
= 2000 ( 1 – 40% ) ( 1- 12% )
= 2000 ( 0.6 ) ( 0.88 )
= RM 1056
Single Discount Equivalent
r = 1 – r( 1- r1) (1 – r2) (1 – r3)
Example:
1) A product is advertised at RM1500 less 20%, 10% and 5%. Find
(a) the single trade equivalent
(b) the net price
From r = 1 – r( 1- r1) (1 – r2) (1 – r3), we get
(a) singe discount equivalent = 1- ( 1 – 0.20 ) ( 1- 0.10 ) ( 1 – 0.05 )
= 1 - ( 0.80 ) ( 0.90 ) ( 0.95 )
= 1 – 0.84
= 0.316
= 31.6%
(b) From NP = L(1-r), we get
= 1500 ( 1 – 31.6% )
= RM 1026
2) Find the single discount equivalent of 10% and 3%.
From r = 1 – r( 1- r1) (1 – r2) (1 – r3), we get
r = 1 ( 1 – 10% ) ( 1- 3% )
=12.7%
Cash Discount
Example:
1) Explain the cash discount terms
(a) 2/10, 1/30, n/60 (b) net 30
(a) This term means 2% of the net price my be deducted if the invoice is paid within 10 days of the date of the invoice; 1% may be deducted if the invoice is paid between 11th and 30 day; and the full amount must be paid by the 60th day. After the 60th day the bill is overdue.
(b) Net 30 means payment is due within 30 days of the invoice date.
2) An invoiced dated 10 April 2005 for RM2300 was offered cash discount term of 3/10, 2/20, n/60. Find the payment if the invoice was paid on 28 April 2005.
Since the invoice was paid 18 day after the date of the invoice, a cash of 2% was obtained. The buyers did not gets the 3% cash discount as the invoice was not paid within the 3% discount period within of 10 day
Net payment = net price – cash discount
= 2300 – ( 0.02 x 2300 )
= RM2254
The amount of payment was RM2254.
GREAT Subject
This had been teach on 28/7/2008
Formula For Calculating Net Price
NP = L (1-r)
Let:
LP = net price
L = list price
r% = trade discount
From the net price = list price –trade discount, we get
NP = L – Lr
NP = L (1-r)
Examples:
1) The net price of a camera with 40% trade discount is RM480. What is the list price?
Let the list price be RM x. Hence,
Trade discount = 0.4x
Net price = list price – trade discount
480 = x – 0.4x
480 = 0.6x
x = 480/0.6
=RM800
Hence, the list price is RM800.00
Alternatively by using the formula, we get
Np = L(1-r)
480 = L(1-40%)
L = RM800
2) A bill of RM1200 in including a prepaid handling charge of RM200 is offered a trade discount 15%. What is the net price?
Trade discount = 0.15 x RM1000 = RM150
(It should be not that the discount is based on the cost of goods, excluding any other costs.)
Net price = (1000 – 150) + 200
= RM 1050
Chain Discount
In a chain discount, each discount rate is calculated on the successive net amount.
Example:
A radio is advertised for RM4800 less 20% and 10%. Find
(a) the net Price
(b) the total discount
List price = RM 4800
Less20% : 0.20 x RM4800 = 960 –
3840
Less10% : 0.10 x RM3840 = 384 –
= RM3456
Total discount = Em4800 – RM3456
= RM1344
It should be that the chain discount of 20% and 10% is not the same as 30% since the 10% is the based on the net amount (RM3840) after the first discount of 20% and not the list price of RM4800. If the single discount of 30 percent is given in example, the net price is 70% of list price: that is,
Net price = 70% x RM4800
= Rm3360
Thus, we see that the chain discount of 20% and 10% is less than a single discount of 30%.
Formula For Calculating Net Price
NP = L (1-r)
Let:
LP = net price
L = list price
r% = trade discount
From the net price = list price –trade discount, we get
NP = L – Lr
NP = L (1-r)
Examples:
1) The net price of a camera with 40% trade discount is RM480. What is the list price?
Let the list price be RM x. Hence,
Trade discount = 0.4x
Net price = list price – trade discount
480 = x – 0.4x
480 = 0.6x
x = 480/0.6
=RM800
Hence, the list price is RM800.00
Alternatively by using the formula, we get
Np = L(1-r)
480 = L(1-40%)
L = RM800
2) A bill of RM1200 in including a prepaid handling charge of RM200 is offered a trade discount 15%. What is the net price?
Trade discount = 0.15 x RM1000 = RM150
(It should be not that the discount is based on the cost of goods, excluding any other costs.)
Net price = (1000 – 150) + 200
= RM 1050
Chain Discount
In a chain discount, each discount rate is calculated on the successive net amount.
Example:
A radio is advertised for RM4800 less 20% and 10%. Find
(a) the net Price
(b) the total discount
List price = RM 4800
Less20% : 0.20 x RM4800 = 960 –
3840
Less10% : 0.10 x RM3840 = 384 –
= RM3456
Total discount = Em4800 – RM3456
= RM1344
It should be that the chain discount of 20% and 10% is not the same as 30% since the 10% is the based on the net amount (RM3840) after the first discount of 20% and not the list price of RM4800. If the single discount of 30 percent is given in example, the net price is 70% of list price: that is,
Net price = 70% x RM4800
= Rm3360
Thus, we see that the chain discount of 20% and 10% is less than a single discount of 30%.
Second Class
8/7/2008 is the second class. This what I learnt;
Percentages
Percentages is formed by multiplying a number, called the based by the percent, called the rated.
-Determining Percentages
FORMULA: Percentages = Rate x Base
For examples 20% of 120 = 0.20 x 120 = 24
-Percent problems of Increase or Decrease
Problems involving change, increase or decrease, are in very common in business application.
(1) For case of increase, the amount of change is added to the original quantity:
Original quantity + increase = new quantity
(2) For case of decrease, the amount of changes is subtracted form the original quantity:
Original quantity – decrease = new quantity
The amount increase or decrease is usually stated as a percent of the original quantity.
PERCENT APPLICATIONS
-Sales Commissions
Sales commissions are paid to employees or companies sell merchandise in store or by calling on customers. The commission is meant to motivate sales persons to sell more. Commissions may be paid in a addition salary or instead of salary.
For examples, if a sales person receives a 10% commissions on their sales and sells RM1500 worth of merchandise, they would earn RM150 in commissions.
-Price Discount
Store will often sell items for a discounted sales price. The store will discount an item by the percent of the original price.
For example, an item that originally cost RM20 may be discounted by 25%
To find the amount of discount calculates 25% of RM20. (PM20.00 x 25/100 = RM5.00)
Subtract the discount from the original price to find the sales prices.
(RM20.00-RM5.00=RM15.00 sales price).
-Amount Sales Tax
Many states and city levy a sales tax on retail purchases. The sales tax is determined by finding o percentages of the purchase price. The percentages of tax is called rate various between different states and cities.
If the sales tax 6% and an RM10.00 purchase is made, the sales tax is
RM10.00 x 6/100 or RM0.60.
-Mark Up
Stores buy items from a wholesaler distributor and increase the price when they sell items to consumers. The increase in price provides money for the operation of the store and the salaries of people who work in the store.
A store may have ruled that a price of the certain type of items need to be increase by a certain percentages to determine how much it sell for. This percentage is called the markup.
Is the cost is known and the percentages is know, the sales price is the original cost plus the amount of markup. For example, is the original cost RM4.00 and the markup is 25%, the sales price should be RM4.00 +RM4.00 x 25/100 = RM5.00.
A faster way to calculate the sales price is to make the original cost equal to 100%. The markup is 25% so the sales price is 125% of the original cost. In the example,
RM4.00 x 125/100 = RM5.00.
Percentages
Percentages is formed by multiplying a number, called the based by the percent, called the rated.
-Determining Percentages
FORMULA: Percentages = Rate x Base
For examples 20% of 120 = 0.20 x 120 = 24
-Percent problems of Increase or Decrease
Problems involving change, increase or decrease, are in very common in business application.
(1) For case of increase, the amount of change is added to the original quantity:
Original quantity + increase = new quantity
(2) For case of decrease, the amount of changes is subtracted form the original quantity:
Original quantity – decrease = new quantity
The amount increase or decrease is usually stated as a percent of the original quantity.
PERCENT APPLICATIONS
-Sales Commissions
Sales commissions are paid to employees or companies sell merchandise in store or by calling on customers. The commission is meant to motivate sales persons to sell more. Commissions may be paid in a addition salary or instead of salary.
For examples, if a sales person receives a 10% commissions on their sales and sells RM1500 worth of merchandise, they would earn RM150 in commissions.
-Price Discount
Store will often sell items for a discounted sales price. The store will discount an item by the percent of the original price.
For example, an item that originally cost RM20 may be discounted by 25%
To find the amount of discount calculates 25% of RM20. (PM20.00 x 25/100 = RM5.00)
Subtract the discount from the original price to find the sales prices.
(RM20.00-RM5.00=RM15.00 sales price).
-Amount Sales Tax
Many states and city levy a sales tax on retail purchases. The sales tax is determined by finding o percentages of the purchase price. The percentages of tax is called rate various between different states and cities.
If the sales tax 6% and an RM10.00 purchase is made, the sales tax is
RM10.00 x 6/100 or RM0.60.
-Mark Up
Stores buy items from a wholesaler distributor and increase the price when they sell items to consumers. The increase in price provides money for the operation of the store and the salaries of people who work in the store.
A store may have ruled that a price of the certain type of items need to be increase by a certain percentages to determine how much it sell for. This percentage is called the markup.
Is the cost is known and the percentages is know, the sales price is the original cost plus the amount of markup. For example, is the original cost RM4.00 and the markup is 25%, the sales price should be RM4.00 +RM4.00 x 25/100 = RM5.00.
A faster way to calculate the sales price is to make the original cost equal to 100%. The markup is 25% so the sales price is 125% of the original cost. In the example,
RM4.00 x 125/100 = RM5.00.
8/7/2008
On 8/7/08 was my first class in math108. It was really excited because since primary school mathematic is my favorite subject. Today my lecturer will lecture about FRACTION, DECIMAL, PERCENTS, and RATIO. Here some notes
that I can share with all of you:
FRACTION
-A number that can be written as a quotient of two quantities is called a fraction.
1 and 3
E.g., - -
2 4
-The number above the line in a fraction is called the numerator and it tells how many parts are being talked about or considered. The number below the line in a fraction is called the denominator and it indicates the number of parts in the whole. It tells what kind or size of parts the numerator counts.
DECIMAL
-Decimals are another to express fraction and decimals that are based on hundredths. For examples, 1 3
E.g., - = 0.5 and - = 0.75
2 4
PERCENTAGES
-Percentages are simply another way of representing fraction and decimal that are based on hundreds. For examples, 0.12 can be through as12%. “Percent” means “per
hundred” or “for ever hundreds.” S, 12% is a way of representing 12 for every 100. Percents are an easy to compare data because they have to common base of 100.
Conversation Between Fraction, Decimal and Percentage
-Conversation a Fraction to a Percent
Convert 4/5 to a percent
STEP 1: Divided the numerator of the fraction by the denominator 4/5=0.80
STEP 2: Multiply by 100% (move to the decimal point two places 0.80x100%
to the right) =80%
-Conversation a Percent to a Fraction
Convert 80% to a fraction
STEP 1: Remove the percent sign 80
STEP 2: Make a fraction with the percent as the numerator and 80/100
100 as the denominator
STEP 3: Reduce the fraction if possible 4/5
-Converting a Decimal to a Percent
Convert 0.83 to a percent
STEP 1: Multiply the decimal by 100 0.83x100%
STEP 2: Leave the answer in a percent sign 83%
-Converting a Percent to a Decimal
Convert 83% to a decimal
STEP 1: Divide the percent by 100 80/100
Ratio and Proportions
-Ratio
A ratio is a comparison of two or more quantities. Ratio can be written using fraction or colon (:). For examples, if comparing 60kg 40 40kg, the comparison may be express in the same unit of measurement. Do not write the unit of measurement in ratio.
It is important to note that ratios represent relative, rather than absolute, amount. For examples, if the ratio of boy to girl in particular grade level is 2 to 3, there could be 20 boys and 10 girls, 200 boys and 200 girls, or some other pair of numbers whose is equivalent (e.g. 40 boys and 60 girl).
-Proportions
Proportions are equivalent ratios. Each proportions consist of four terms. For example,1 is to 3 as 2 is to 6 is a proportion. It can be written as the follow:
1:3 = 2:6 or 1/3 = 2/6
Proportion may be direct or inverse. In direct proportion, as one ratio increase (or decrease) so does the other. In inverse proportion, as one ratio increase the other decrease and vice versa.
As a guide for setting up equation in dealing with
Direct proportion:
1. Write the ratio using like unit
2. Write the second ratio in the same order, so that its numerators is term that pertains to the numerator of the first ratio.
1. Write the ratio using the like units.
2. Write the second ratio in the inverse order, so that its numerators is the term that pertains to the denominator of the first ratio.
that I can share with all of you:
FRACTION
-A number that can be written as a quotient of two quantities is called a fraction.
1 and 3
E.g., - -
2 4
-The number above the line in a fraction is called the numerator and it tells how many parts are being talked about or considered. The number below the line in a fraction is called the denominator and it indicates the number of parts in the whole. It tells what kind or size of parts the numerator counts.
DECIMAL
-Decimals are another to express fraction and decimals that are based on hundredths. For examples, 1 3
E.g., - = 0.5 and - = 0.75
2 4
PERCENTAGES
-Percentages are simply another way of representing fraction and decimal that are based on hundreds. For examples, 0.12 can be through as12%. “Percent” means “per
hundred” or “for ever hundreds.” S, 12% is a way of representing 12 for every 100. Percents are an easy to compare data because they have to common base of 100.
Conversation Between Fraction, Decimal and Percentage
-Conversation a Fraction to a Percent
Convert 4/5 to a percent
STEP 1: Divided the numerator of the fraction by the denominator 4/5=0.80
STEP 2: Multiply by 100% (move to the decimal point two places 0.80x100%
to the right) =80%
-Conversation a Percent to a Fraction
Convert 80% to a fraction
STEP 1: Remove the percent sign 80
STEP 2: Make a fraction with the percent as the numerator and 80/100
100 as the denominator
STEP 3: Reduce the fraction if possible 4/5
-Converting a Decimal to a Percent
Convert 0.83 to a percent
STEP 1: Multiply the decimal by 100 0.83x100%
STEP 2: Leave the answer in a percent sign 83%
-Converting a Percent to a Decimal
Convert 83% to a decimal
STEP 1: Divide the percent by 100 80/100
Ratio and Proportions
-Ratio
A ratio is a comparison of two or more quantities. Ratio can be written using fraction or colon (:). For examples, if comparing 60kg 40 40kg, the comparison may be express in the same unit of measurement. Do not write the unit of measurement in ratio.
It is important to note that ratios represent relative, rather than absolute, amount. For examples, if the ratio of boy to girl in particular grade level is 2 to 3, there could be 20 boys and 10 girls, 200 boys and 200 girls, or some other pair of numbers whose is equivalent (e.g. 40 boys and 60 girl).
-Proportions
Proportions are equivalent ratios. Each proportions consist of four terms. For example,1 is to 3 as 2 is to 6 is a proportion. It can be written as the follow:
1:3 = 2:6 or 1/3 = 2/6
Proportion may be direct or inverse. In direct proportion, as one ratio increase (or decrease) so does the other. In inverse proportion, as one ratio increase the other decrease and vice versa.
As a guide for setting up equation in dealing with
Direct proportion:
1. Write the ratio using like unit
2. Write the second ratio in the same order, so that its numerators is term that pertains to the numerator of the first ratio.
1. Write the ratio using the like units.
2. Write the second ratio in the inverse order, so that its numerators is the term that pertains to the denominator of the first ratio.
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