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Introduction to Commercial Mathematics for ICSE Students

Arnab Bhattacharjee
25 Feb 0 0

Objective: By the end of this lesson, students will understand the fundamental concepts of commercial mathematics, including profit and loss, discount, simple interest, and compound interest.


Lesson Outline:

1. Introduction to Commercial Mathematics

  • Definition and real-life applications

  • Importance in daily life and business transactions

2. Profit and Loss

  • Concept of Cost Price (CP) and Selling Price (SP)

  • Formulae:

    • Profit = SP - CP

    • Loss = CP - SP

    • Profit Percentage = (Profit / CP) × 100

    • Loss Percentage = (Loss / CP) × 100

  • Practical Examples and Word Problems

3. Discount

  • Definition of Marked Price and Selling Price

  • Formula:

    • Discount = Marked Price - Selling Price

    • Discount Percentage = (Discount / Marked Price) × 100

  • Real-life Applications (e.g., shopping, sales, and business deals)

4. Simple Interest (SI)

  • Definition and Formula:

    • SI = (P × R × T) / 100 where P = Principal, R = Rate of Interest per annum, T = time in years

  • Practical Examples from Banking and Finance

5. Compound Interest (CI)

  • Definition and Formula:

    • CI = P(1 + R/100)^T - P

  • Difference between Simple Interest and Compound Interest

  • Applications in Banking and Investments

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