Business Mathematics: Concepts and Formulas
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Questions and Answers

What is the main focus of Business Mathematics?

  • Algebraic equations
  • Geometry and trigonometry
  • Calculus and differentiation
  • Interest rates and tax calculations (correct)

    • What do business tasks rely on in terms of mathematics?

  • Pure arithmetic operations
  • Financial formulas and measurements (correct)
  • Complex number theory
  • Statistical hypothesis testing

    • What does Business Mathematics help to identify in business?

  • Consumer behavior patterns
  • Factors related to profit and loss (correct)
  • The market demand and supply dynamics
  • Macroeconomic indicators

    • What is the relationship between Business Mathematics and Statistics?

    <p>Statistics provides solutions to business problems</p> Signup and view all the answers

    What does Business Math primarily deal with?

    <p>Dealing with profit or loss</p> Signup and view all the answers

    Which mathematical thinking is required for Business Mathematics?

    <p>Mathematical thinking and some Maths formulas</p> Signup and view all the answers

    The formula for calculating the net income is:

    <p>Net Income = Revenue – Expense</p> Signup and view all the answers

    The formula for calculating the Cost of Goods Sold (COGS) is:

    <p>COGS = Beginning inventory + Purchase during the period – Ending inventory</p> Signup and view all the answers

    The formula for calculating the Break-Even Point is:

    <p>Break-Even Point = Fixed cost / (Sales Price per unit – variable cost per unit)</p> Signup and view all the answers

    The formula for calculating the Current Ratio is:

    <p>Current Ratio = Current Assets / Current Liabilities</p> Signup and view all the answers

    The formula for calculating the Profit Margin is:

    <p>Profit Margin = (Net Income/ Revenue) × 100</p> Signup and view all the answers

    The formula for calculating the Return on Investment (ROI) is:

    <p>ROI = [(Invest gain – Cost of Investment)/ Cost of Investment] × 100</p> Signup and view all the answers

    The formula for calculating the Markup Percentage is:

    <p>Markup Percentage = [(Revenue- COGS)/COGS] × 100</p> Signup and view all the answers

    The formula for calculating Inventory Shrinkage is:

    <p>(Recorded Inventory – Actual Inventory)/ Recorded Inventory] × 100</p> Signup and view all the answers

    'Profit' is best defined as:

    <p>'Profit' is the earned amount received by a business on selling a product.</p> Signup and view all the answers

    'Loss' is best defined as:

    <p>'Loss' is the amount which is less than the actual price of the product.</p> Signup and view all the answers

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