Constants, variables and Functions, Limits of algebraic functions -Differentiation - Derivatives – First order and Second order Derivatives - Maxima & Minima – application to Business problems.
Elementary integral calculus – method of substitution – determining Infinite and definite Integrals of simple functions – Integration by parts
Cost function and average cost function from Marginal cost function – Revenue function and demand function from Marginal Revenue function – consumer surplus – producers surplus
Net Present value – Internal rate of return – Capital cost and Capital Budgeting – Depreciations – straight line method- constant percentage method
Contingent Payments: Introduction – probability – mathematical expectation – contingent payments with time value. Life Annuities and Life Insurance: Introduction – Mortality tables – pure Endowments – Life Annuities – life Insurance – Annual Premium Policies.
Reference Book:
1. Business Mathematics – P.R. Vittal, Margham Publications – Reprint - 1999 2. Introduction to Business Mathematics bySundersan and Jayaseelan, Sultan chand Co &Ltd , Newdelhi, 1998. 3. Business Mathematics by Sanchetti D.C and Kapoor , V.K, Sultan chand Co &Ltd , Newdelhi, 2007 Reprint 11th edition.
Text Book:
1. Business Mathematics &Statistics by Navnitham , P.A, Jai Publishers Trichy -21 (For Units I, II and III) , April 2011. 2. Mathematics of finance Second edition – Petrzima, Robert L. Brown, Tata Mc.Graw – Hill Publishing Company Limited, New Delhi - 1996 (For Units IV and V)