Tuesday, December 8, 2009

Simple Definition of Business Mathematics And Advantages of Business Mathematics

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        Business mathematics may be define different mathematical formulas or mathematical steps which are taken for development in business . Large number of business theories which is used to solve business problems are included in business mathematics .

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Explanation of Definition of Business Mathematics 






From this simple definition , we find that business mathematics is nothing more than different formulas and theories  like interest rate , annuity rate , matrix theory , linear programming theory and probability theory and many more . With these formulas and theories business can calculate many solutions of different problems .


Advantages of Business Mathematics 


  • With interest rate of maths , businessman  can calculate the interest on debt , loan or bonds . 
  • With matrix , businessman  can calculate salary bill of different department and branches .
  • With Linear programming , business can determine the quantity of two products at which profit is maximize or cost is minimize . 
  • With discounting and factoring technique businessman can calculate present value of bill , rat of discounting the bill  and banker's gain 
  • With currency translation formula of maths , businessman can cost of currency between two countries .
  • With Assignment solution technique businessman can solve transportation problems.
  • Large number of business estimations are done on the basis of probability theory of business mathematics .
  • Market research bureau can use consistency data theory of business mathematics for calculating estimating profit , capital  and sale of business . 
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