BUSINESS MATHEMATICS, DEFINITION & USE IN EVERYDAY LIFE

May 19th, 2015
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Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.

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Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics inaccounting, inventory management, marketing, sales forecasting,and financialanalysis. Mathematics typically used incommerceincludes elementary arithmetic, elementary algebra, statistics and probability. Business management can be made more effective in some cases by use of more advanced mathematics such ascalculus, matrix algebra and linear programming.Business Mathematics is very important for modern business management. The forecasting and operating procedures are based primarily on business mathematics. Things such as simple interest and compound interest show a company what it will lose or get over the years if itinvestsin a particular asset. Business mathematics also helps in cost and price calculations which a

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