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Business Mathematics: Course outline

Course description

The course is designed to give non-intimidating presentation of mathematical concepts, principles and techniques most useful for students in business management. The main objectives of the course are to enhance students’ competency in application of mathematics to solve business management problems and to improve their level of quantitative sophistication for further advanced business analysis.

Learning outcome

Upon the successful completion of this course, you should be able to:


By the end of this course a students would have developed knowledge and skills that will be helpful relating to business mathematics. Students would also be able to use these techniques in critical business decision makings.


Critical evaluation of current practices and also discuss the Islamic content of this course. Students would have developed modeling skills by using excel solver.

Recommended Books

Reference book

Related books

Course content

Week 01: Introduction to Mathematics and Islamic History of Mathematics

1.1 House of Wisdom.

1.2 Al-Khwarizmi

I. Arithmetic

II. Algebraic Operations

III. Geometry: Ibn Sinān

1.3 Mathematics in Quran and Hadith

1.4 Arabic/Islamic mathematicians in our archive in chronological order


5-1 Equations 152

1 Solve equations using multiplication or division. 152

2 Solve equations using addition or subtraction. 153

3 Solve equations using more than one operation. 154

4 Solve equations containing multiple unknown terms. 156

5 Solve equations containing parentheses. 157

6 Solve equations that are proportions. 158

5-2 Using Equations to Solve Problems 161

1 Use the problem-solving approach to analyze and solve

Word problems. 161

5-3 Formulas 168

1 Evaluate a formula. 168

2 Find an equivalent formula by rearranging the formula. 169

Week 03: PERCENTS 186

6-1 Percent Equivalents 188

1 Write a whole number, fraction, or decimal as a percent. 188

2 Write a percent as a whole number, fraction, or decimal. 190

6-2 Solving Percentage Problems 193

1 Identify the rate, base, and portion in percent problems. 193

2 Use the percentage formula to find the unknown value when two values are known. 194

6-3 Increases and Decreases 199

1 Find the amount of increase or decrease in percent problems. 199

2 Find the new amount directly in percent problems. 201

3 Find the rate or the base in increase or decrease problems. 202

Week 04: 7-1 Graphs and Charts 222

1 Interpret and draw a bar graph. 222

2 Interpret and draw a line graph. 225

3 Interpret and draw a circle graph. 227

7-2 Measures of Central Tendency 231

1 Find the mean. 231

2 Find the median. 232

3 Find the mode. 233

4 Make and interpret a frequency distribution. 235

5 Find the mean of grouped data. 238

7-3 Measures of Dispersion 242

1 Find the range. 242

2 Find the standard deviation. 243


8-1 Single Trade Discounts 268

1 Find the trade discount using a single trade discount rate; find the net price using the trade discount. 268

2 Find the net price using the complement of the single trade discount rate. 270

8-2 Trade Discount Series 272

1 Find the net price applying a trade discount series and using the net decimal

Equivalent. 272

Course content


9-1 Markup Based on Cost 304

1 Find the cost, markup, or selling price when any two of the three are known. 304

2 Find the cost, markup, selling price, or percent of markup when the percent of markup is based on the cost. 306

9-2 Markup Based on Selling Price and Markup Comparisons 312

1 Find the cost, markup, selling price, or percent of markup when the percent of markup is based on the selling price. 312

2 Compare the markup based on the cost with the markup based on the selling

Price. 318

9-3 Markdown, Series of Markdowns, and Perishables 322

1 Find the amount of markdown, the reduced (new) price, and the percent of markdown. 322

2 Find the final selling price for a series of markups and markdowns. 324

3 Find the selling price for a desired profit on perishable and seasonal goods. 327


21-1 The Balance Sheet 726

1 Prepare a balance sheet. 726

2 Prepare a vertical analysis of a balance sheet. 729

3 Prepare a horizontal analysis of a balance sheet. 732

Week 08: 21-2 Income Statements 737

1 Prepare an income statement. 737

2 Prepare a vertical analysis of an income statement. 739

3 Prepare a horizontal analysis of an income statement. 741

21-3 Financial Statement Ratios 745

1 Find and use financial ratios. 745


1.1. Analysis of Functions: Increase, Decrease and Concavity

1.2. Analysis of Functions: Relative Extreme, First and Second Derivative Tests (Relative Maxima and Minima)

1.3. Optimization

1.4. Revenue: Marginal Revenue, Average Revenue

1.5 Marginal Cost, Average Cost

1.6. Profit Maximization: MR = MC 


2.1. Derivatives of Multivariate Functions: Partial Derivatives and their interpretations

2.2. Differential Equations

2.3. Higher- order derivatives of Multivariate functions

2.4. Optimum values of multivariate functions of two independent variables


3.1. Derivatives of Exponential functions

3.2. Logarithmic function differentiation

3.3. Constrained optima: Substitution and lagrangian multipliers


4.1. The Integral

4.2. Relationship between integral and differential calculus

4.3. The Definite Integral

4.4. The fundamental theorem

4.5. Rules of integration

4.6. Integration by substitution

4.7. Integration by parts

4.8. Business and economic applications   of integral  calculus