**PAPER NO.4: FUNDAMENTALS OF BUSINESS MATHEMATICS **

**GENERAL OBJECTIVE**

This paper is intended to equip the candidate with the requisite knowledge, skills and attitudes to apply basic mathematical concepts to solve problems in business and other environments.

**LEARNING OUTCOMES**

A candidate who passes this paper should be able to:

- Apply ratios, rates and proportions to interpret various scenarios
- Apply indices and logarithms in computations
- Use linear and matrix algebra to solve problems
- Apply basic calculus to solve problems
- Calculate measures of central tendency in statistics
- Construct and interpret basic graphs

### CONTENT

**Ratios, Rates and Proportions**

- Ratios
- Rates
- Proportions
- Fractions
- Decimals
- Percentages

### Indices and Logarithms

- Notations
- Laws of indices
- Simplifying and solving indices
- Logarithms
- Change of base

### Linear Equations

- Linear equations in one unknown
- Linear equations in two unknowns
- Graphical solutions in two unknowns

### Matrix Algebra

- Notations
- Operations
- Solving a 2*2 matrix

### Sequences and Series

- Arithmetic progression(A.P):nth term, sum of first n terms
- Geometric progression (G.P): nth term, sum of first n terms

### Commercial Mathematics

- Percentage profit and loss
- Simple interest and compound interest
- Appreciation and depreciation
- Basic income tax calculations
- Foreign exchange rates

### Calculus

- Basic differentiation
- Stationary points/turning points
- Basic integration

### Probability

- Definitions: event, experiment and outcome
- Types of events
- Rules/laws of probability
- Conditional probability

### Descriptive Statistics

- Data collection
- Data presentation; Frequency distribution table
- Mean, mode and median
- Variance and standard deviation

### Graphs

- Cartesian plane
- Linear graphs
- Graphs of simultaneous equations
- Graphs of quadratic equations
- Bar charts
- Time series graphs
- Pie charts
- Graphs of frequency distribution; histogram, polygon, frequency curve, ogive

### Emerging issues and trends