Business Mathematics

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Chapter 1
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NUMERATION

1.1 Place value for numbers

This section aims to:
1. Discuss the numeration system and illustrate the place value of a number; and 2. Translate numerals into words and vice versa.

ARITHMETIC
Arithmetic is a basic tool in the study of Business Mathematics. The extent of Practical application whether social or business, makes use of the arithmetical operations. Such as addition, subtraction, multiplication and division.

Most of the application included in the material are profit and loss, Depreciation, income tax, computation ,problems dealing with ratio and proportion , Simple interest and discount ,percentages, payroll, compensation ,net pay ,commissions, Markup discounts, cash and retail discounts ,and many other business problems involving . THE FOUR FUNDAMENTAL OPERATIONS

No definite rule can be followed in solving business problems but the following suggestion will help in formulating and solving problems:
Suggested Steps in Solving Problems
1. Read very carefully the problems until the conditions are all clear. 2. Determine the given and set what is to be found
3. Form the relationship between the given and the required 4. Decide what process or process to use . If the problem involves a series of steps, decide what process is to be applied first. 5. Use formulas connecting the known quantities with the unknown quantities. 6. Also, if possible, try to give an estimate of the possible answer. 7. Solve the problem in accordance with the process involves .the most important is to be careful in every aspects of computation. As simple error will make all computation collapsed. 8. Check the solutions with the condition of the problem.

NUMBER AND NUMERAL A number is one or more units or things. A number that denotes one or more whole units is a whole number or an integer. A number that denotes a part of portion of a unit is called a fraction. a mixed number is a combination of a whole number and a fraction. A number proceeded by a decimal point and whose value is less than one unit is called a decimal Combination of a whole number and a decimal is a mixed decimal. A decimal fraction is another way to representing a fraction whose denominator is in the power of 10 example the fraction 7/10 represent 0.7 in decimal . A complex decimal is a number consisting of a decimal or mixed decimal and a fraction.

Examples are 0.33 1/3 and 0.66 2/3.
A numeral is a symbol that stands for a number while a number is the idea. We can see a numeral but we can't see a number. NUMERATION SYSTEM

A system of reading and writing numbers is a numeration system. This consistsof symbols and rules or principles on how to use these symbols. Our system of reading and writing number is the decimal system or the Hindu –Arabic system. Ten digits are Used-0, 1, 2,3,4,5,6,7,8 and 9. This system is based on groups of ten . It used the Place value concept.

SIMPLE AND RELATIVE VALUES

A system represented by a figure depends on its position in relation to other figures. The simple Value of a figure is the value it has when it stands alone. For example, 3 when it stands alonehas a value that is one greater than 2,or one less than 4. If 2 is placed to the right of 3 making it 32, it is ten times 3 or 3 tens. The new value that is given to it by placing another figure to the right of it is called its relative value.

PLACE VALUE

The place value of a digit determined its value and each place has a value ten times as that of the place to the right .Let us take a look at the place value chart. The digit of 5 on the chart has a value that changes with its position or place. Its first value is 5 units or ones. Its second value is 5 hundred thousands and its third value...
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