This document provides an overview of business mathematics and some preliminary concepts. It discusses what business math is and how it is used in various business departments and daily life. Some key applications include accounting, finance, and calculating revenues and costs. The document also introduces a PUPP problem-solving model and covers solving first and second degree equations, including using factoring and the quadratic formula. Exercises and examples are provided to illustrate solving different types of equations.

1. BUSINESS
MATHEMATICS
Lecture Week 1 and 2
An Overview of Business Math and
Some Preliminaries
Ayesha Ashraf
Lecturer Department of Business Administration
University of Sahiwal

2. Learning Objectives
• To describe what business math is.
• To list usages/applications of math in day-to-day life and business.
• To explain math’s problem-solving model of PUPP by J. Olivier.
• To revise basic mathematical concepts
• To learn solving first degree equation in one variable
• To learn solving second degree equation in one variable

3. Business Mathematics
• The study of Math required by the business.
• Business Math used by commercial enterprises to record and
manage business operations.
• Every business field deals with Mathematics because of the
involvement of “money” in business.
• It is the specialized field of Math that deals with money.
• It explains monetary concepts and helps to make smart
decisions with money.

4. Application of Math in day-to-day life
• We are surrounded by numbers.
• People use basic arithmetic operations of addition, subtraction,
multiplication and division in their daily life to solve different
problems.
• Everything requiring any kind of calculation involves
mathematics.

5. Application of Math in Business
• There are different departments in business such as Accounting,
Marketing, Finance, Human Resources, etc and each department
deals with money and therefore has application of Math.
• Purpose of each department is to contribute to earning the money
for business.
• Knowing the rules of Business Math, enterprises can make smart
decisions in order to maximize revenue and minimize the costs.
• Business Math helps to optimize the business operations by
enabling businessmen to act smartly.

6. How to solve a Math problem?
• A systematic approach of solving a Math problem is to follow
“PUPP model” designed by J.Olivier
• This model involves four steps:
P: PLAN
U: UNDERSTAND
P: PERFORM
P: PRESENT

7. 4-Steps of PUPP Model
Plan
• Find out the variable that you need to solve a problem for.
• Determine the end goal of the problem i.e; the result that is being asked
about in the question.
Understand
• Assess what information is already provided.
• Assign values to the variables.
• Design a roadmap to reach from point A to point B.

8. 4-Steps of PUPP Model (Cont’d)
Perform
• Execute the plan.
• This step involves all the calculations that have been designed in step II.
Present
• Explain the solution in context of the question asked.
• Explaining helps to easily detect the errors in the solution.

9. Basic Concept of Solving Equation

10. Class Activity
• List down 10 activities involving Mathematics that you perform
in your daily life.
• Choose any occupation/job and list down as many activities as
you may find, that involve Mathematics.

11. Some Preliminaries

12. Solving First Degree Equation in One Variable
Equation
• An equation sates the equality of two algebraic expression. The
algebraic expression may be stated in term of one or more
variables.
• Following are the examples of equations.
3x-10= 22-5x
16x − 54 = 15x − 32

13. Examples
• x-5= 2x-8
• x-10= 3x-5
• 2x+4=16-x
• 3t+10= 4t-6
• 3-5t=3t-5
• 3(2x-8)=4(7+x)
• 3y-10=6y+4

14. Practice Questions

15. Practice Questions (Cont’d)

16. Solving Second Degree Equation in One Variable
A second degree equation involving the variable x has the generalized form
𝒂𝒙𝟐
+ 𝒃𝒙 + 𝒄 = 𝟎
Where a,b,c are the constants with the added provision that 𝒂 ≠ 𝒐. Second
degree equations are usually called quadratic equations.
Solving Quadratic Equations
Factoring Method
Quadratic Formula

17. Factoring Method

18. Quadratic Formula

19. Reference
• For further reading see the books:
• Applied mathematics for business, economics, and the social
sciences by Frank S. Budnick 4th edition
• Business Math by J. Olivier
• College Mathematics for Business, Economics, Life Sciences,
and Social Sciences by Raymond A. Barnett 13th edition

20. Query
• In case of any query contact me at: ayesha@uosahiwal.edu.pk
• You can also ask questions via Google Classroom

21. Thank you