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Chapter 1 – Commercial Mathematics

The following Topics and Sub-Topics are covered in this chapter and are available on MSVgo:

Introduction

Commercial Mathematics is a vital chapter of ICSE Class 10th Mathematics because it forms the basis of advanced mathematics. It covers all the critical topics related to banking, taxation, and shares. These topics will also be used in the following math chapters. Many real-life problems are asked from this chapter, so a clear understanding of commercial mathematics will help you solve problems faster and assist you in actual situations.

Chapter’ Commercial Mathematics’ covers the following topics:

  • Introduction to Commercial Mathematics
  • Goods and Services Tax (GST)
  • Banking
  • Shares and dividends

Commercial mathematics is an essential branch of mathematics that involves fundamental life concepts used in businesses like taxation, banking, shares, dividends, compound interest, profit and loss, etc. Commercial mathematics includes necessary topics related to businesses, so it is also known as business mathematics. Following are the few topics of commercial mathematics:

  • Money
  • Compound Interest 
  • Banking
  • Shares and Dividends
  • Ratios 
  • Profit and Loss
  • Proportions
  • Percentages
  • Taxation

Goods and Services Tax is an example of indirect tax charged by the government directly from the customers on goods and services. It is charged by both state and central governments. Commercial mathematics provides methods to calculate the tax amount. GST is of 3 types:

  • State GST: The local state government charges state goods and services tax on intra-state transactions.
  • Central GST: The central government charges central goods and services tax on intra-state transactions.
  • Integrated GST: Central and state governments charge integrated goods and services tax on inter-state transactions. IGST is also charged on imports and exports of goods.

Steps to calculate GST:

  1. The selling price of the goods or services is calculated by subtracting the discount from the cost price.
  2. If the transaction is intra-state, then the GST amount is calculated by dividing it into CGST and SGST. For example: If GST is 24%, then the CGST is 12%, and SGST is 12%.
  3. If the transaction is intra-state, like Punjab to Delhi, then the GST is calculated as IGST.
  4. The final selling price is calculated by adding the tax amount to the discounted price.

A bank is a financial institution that performs the vital function of depositing and loaning money. Following are the essential functions performed by the banks:

  • Deposit money of customers in savings and current accounts who, in return, receive interest.
  • Give Loans to borrowers who need money. They pay interest on borrowed money.
  • Transfer money from one person to another and one place to another.
  • Collect taxes like income tax, property tax, etc.
  • Collect payments for utility bills like electricity bills, water bills, etc. 
  • Providing cheques’ vital service is an unconditional order to pay or receive payments payable on demand.

Cheques are of 3 types:

  • Bearer cheques: Cheque amount is payable to anyone who presents the cheque to the bank.
  • Crossed cheques: Cheque amount cannot be received in cash. It is transferred directly to the payee’s bank account.
  • Order cheques: Cheque amount is payable only to the person whose name is written on the cheque.

Banking problems in commercial mathematics are asked in the following ways:

  • Find the maturity amount which the person will receive.
  • Calculate the compound interest and simple interest amount.
  • Find the value of each instalment of the loan borrowed.
  • Calculate the monthly instalments for recurring bank deposits.

The capital of any company is divided into smaller equal amount units which are known as shares. A person or organisation who purchases such shares are referred to as shareholders. They receive dividends by the company as the return of the investment and risk taken. Companies that earn reasonable amounts of profit often declare dividends for the shareholders who are a source of profit.

Following are how shares and dividends questions are asked in commercial mathematics:

  • Calculate the market value of the shares by adding premium or subtracting discounts offered on shares.
  • Calculate the amount of dividend, which is expressed in the form of a percentage of shares’ value.
  • Find the total number of shares and total income and dividend earned from the shares.

Significant shares and dividends formulas used in commercial mathematics:

  • Total investment = Number of shares × Market value of each share
  • Dividend per share = Dividend percentage × Market value of the share
  • Annual share income = a Total number of shares × income per share.
  • Total number of shares = Total investment in shares/ Market value of the share

The chapter’ Commercial Mathematics’ is an essential topic for class 10th mathematics and a necessary concept for advanced mathematics and real-life situations. This chapter’s sound knowledge will smoothen your journey through the upcoming mathematics chapters and real-life business situations.

  1. What are the different GST slabs imposed by the government?
    There are five slabs of GST imposed by the government:

    • 0.25%
    • 5%
    • 12%
    • 18%
    • 28%
  2. What is the difference between commercial mathematics and maths?
    Maths is a broader concept that includes commercial mathematics and geometry, algebra, numbers, etc. Commercial mathematics is a part of maths that includes business mathematics concepts like profit and loss, banking, shares, dividends, etc.
  3. What is the formula to calculate compound interest?
    The formula to calculate compound interest is P(1 + R/100) ^ t, where p is the principal investment amount, r is the return rate, and t is the period.
  4. Why should you always cross your cheques?
    Even if the cheque gets lost and someone tries to put it in a bank, the crossed cheque amount is transferred to the payee’s bank and cannot be encashed.

‘Commercial Mathematics’ is an essential chapter of mathematics. So, the visual representation of this chapter is necessary. The MSVgo app is a video library platform that helps you comprehend topics through exploratory graphics and practical models. So, make sure to check out the explanatory videos at MSVgo for a better understanding of concepts.

High School Physics

  • Alternating Current
  • Atoms
  • Communication Systems
  • Current Electricity
  • Dual nature of Radiation and Matter
  • Electric Charges and Fields
  • Electricity
  • Electromagnetic Induction
  • Electromagnetic Waves
  • Electron Beams and Radioactivity
  • Electrons and Photons
  • Electrostatic Potential and Capacitance
  • Fluid Pressure
  • Force and Acceleration
  • Force And Laws Of Motion
  • Gravitation
  • Internal Energy
  • Kinetic Theory
  • Law of motion
  • Light – Reflection And Refraction
  • Magnetic Effects Of Electric Current
  • Magnetism and Matter
  • Management Of Natural Resources
  • Mechanical properties of Fluids
  • Mechanical properties of Solids
  • Motion
  • Motion in a plane
  • Motion in a straight line
  • Moving Charges and Magnetism
  • Nuclear Energy
  • Nuclei
  • Oscillations
  • Our Environment
  • Paths of Heat
  • Physical world
  • Ray optics and optical instruments
  • Semiconductor Devices
  • Semiconductor Electronics: Materials, Devices and Simple Circuits
  • Simple Machines
  • Sound
  • Sources Of Energy
  • Specific and Latent Heats
  • Spherical Mirrors
  • Static Electricity
  • Systems of Particles and Rotational motion
  • Thermal properties of matter
  • Thermodynamics
  • Units and Measurement
  • Vectors, Scalar Quantities and Elementary Calculus
  • Wave Optics
  • Waves
  • Work, Power and Energy

High School Chemistry

  • Acids, Bases and Salts
  • Alcohols, Phenols and Ethers
  • Aldehydes, Ketones and Carboxylic Acids
  • Aliphatic and Aromatic Hydrocarbons
  • Alkyl and Aryl Halides
  • Amines
  • Analytical Chemistry 
  • Atomic Structure
  • Atoms And Molecules
  • Basic concepts of Chemistry
  • Biomolecules
  • Carbon And Its Compounds
  • Carboxylic acids and Acid Derivatives
  • Chemical Bonding and Molecular Structures
  • Chemical Energetics
  • Chemical Equilibria
  • Chemical Kinetics
  • Chemical Reactions And Equations
  • Chemical Reactions and Their Mechanisms
  • Chemistry in Everyday Life
  • Chemistry of p-Block elements
  • Chemistry of Transition and Inner Transition
  • Classification of Elements
  • Coordination Compounds
  • Cyanide, Isocyanide, Nitro compounds and Amines
  • Electrochemistry
  • Electrolysis
  • Elements, Compounds and Mixtures
  • Environmental Chemistry
  • Equilibrium
  • Ethers and Carbonyl compounds
  • Haloalkanes and Haloarenes
  • Hydrocarbons
  • Hydrogen
  • Ideal solutions
  • Introduction to Organic Chemistry
  • Ionic equilibria
  • Matter
  • Matter Around Us
  • Matter In Our Surroundings
  • Metallurgy
  • Metals And Non-Metals
  • Mole Concept and Stoichiometry
  • Natural Resources
  • Organic Chemistry – Basic Principles
  • Periodic Classification of Elements
  • Physical and Chemical Changes
  • Physical and Chemical Properties of Water
  • Polymers
  • Preparation, Properties and Uses of Compounds
  • Principles and Processes of Isolation of Elements
  • Redox Reactions
  • Relative Molecular Mass and Mole
  • States of Matter
  • Structure Of The Atom
  • Study of Compounds
  • Study of Gas Laws
  • Study of Representative Elements
  • Surface Chemistry
  • The d-block and f-block elements
  • The Gaseous State
  • The p-Block Elements
  • The Periodic Table
  • The s-Block Elements
  • The Solid State
  • Thermodynamics

High School Biology

  • Absorption and Movement of Water in Plants
  • Adolescent Issues
  • Anatomy of Flowering Plants
  • Animal Kingdom
  • Bacteria and Fungi-Friends and Foe
  • Biodiversity and Conservation
  • Biofertilizers
  • Biological Classification
  • Biomedical Engineering
  • Biomolecules
  • Biotechnology and its Applications
  • Biotic Community
  • Body Fluids and Circulation
  • Breathing and Exchange of Gases
  • Cell – Unit of Life
  • Cell Cycle and Cell Division
  • Cell Division and Structure of Chromosomes
  • Cell Reproduction
  • Cellular Respiration
  • Chemical Coordination and Integration
  • Circulation
  • Control And Coordination
  • Crop Improvement
  • Digestion and Absorption
  • Diversity In Living Organisms
  • Ecosystem
  • Environmental Issues
  • Excretory Products and their Elimination
  • Flowering Plants
  • Genes and Chromosomes
  • Health and Diseases
  • Health and Its Significance
  • Heredity And Evolution
  • Heredity and Variation
  • How Do Organisms Reproduce?
  • Human Diseases
  • Human Eye And Colourful World
  • Human Health and Disease
  • Human Population
  • Human Reproduction
  • Hygiene
  • Improvement In Food Resources
  • Integumentary System- Skin
  • Kingdom Fungi
  • Kingdom Monera
  • Kingdom Protista
  • Life Processes
  • Locomotion and Movement
  • Microbes in Human Welfare
  • Mineral Nutrition
  • Molecular Basis of Inheritance
  • Morphology of Flowering Plants
  • Neural Control And Coordination
  • Nutrition in Human Beings
  • Organism and Population
  • Photosynthesis
  • Photosynthesis in Higher Plants
  • Plant Growth and Development
  • Plant Kingdom
  • Pollination and Fertilization
  • Pollution; Sources and its effects
  • Principles of Inheritance and Variation
  • Reproduction and Development in Angiosperms
  • Reproduction in Organisms
  • Reproductive Health
  • Respiration in Human Beings
  • Respiration in Plants
  • Respiratory System
  • Sexual Reproduction in Flowering Plants
  • Strategies for Enhancement in Food Production
  • Structural Organisation in Animals
  • Structural Organisation of the Cell
  • The Endocrine System
  • The Fundamental Unit Of Life
  • The Living World
  • The Nervous System and Sense Organs
  • Tissues
  • Transpiration
  • Transport in Plants

High School Math

  • Algebra – Arithmatic Progressions
  • Algebra – Complex Numbers and Quadratic Equations
  • Algebra – Linear Inequalities
  • Algebra – Pair of Linear Equations in Two Variables
  • Algebra – Polynomials
  • Algebra – Principle of Mathematical Induction
  • Algebra – Quadratic Equations
  • Binomial Theorem
  • Calculus – Applications of Derivatives
  • Calculus – Applications of the Integrals
  • Calculus – Continuity and Differentiability
  • Calculus – Differential Equations
  • Calculus – Integrals
  • Geometry – Area
  • Geometry – Circles
  • Geometry – Conic Sections
  • Geometry – Constructions
  • Geometry – Introduction to Euclid’s Geometry
  • Geometry – Three-dimensional Geometry
  • Geometry – Lines and Angles
  • Geometry – Quadrilaterals
  • Geometry – Straight Lines
  • Geometry – Triangles
  • Linear Programming
  • Matrices and Determinants
  • Mensuration – Areas
  • Mensuration – Surface Areas and Volumes
  • Number Systems
  • Number Systems – Real Numbers
  • Permutations and Combinations
  • Probability
  • Sequence and Series
  • Sets and Functions
  • Statistics 
  • Trignometry – Height and Distance
  • Trignometry – Identities
  • Trignometry – Introduction

Middle School Science

  • Acids, Bases And Salts
  • Air and Its Constituents
  • Basic Biology
  • Body Movements
  • Carbon and Its Compounds
  • Cell – Structure And Functions
  • Changes Around Us
  • Chemical Effects Of Electric Current
  • Chemistry in Your Life
  • Coal And Petroleum
  • Combustion And Flame
  • Components Of Food
  • Conservation Of Plants And Animals
  • Crop Production And Management
  • Electric Current And Its Effects
  • Electricity And Circuits
  • Elements and Compounds
  • Fibre To Fabric
  • Food production and management
  • Force And Pressure
  • Forests: Our Lifeline
  • Friction
  • Fun With Magnets
  • Garbage In, Garbage Out
  • Getting To Know Plants
  • Health and Hygiene
  • Heat
  • Hydrogen
  • Life Processes: Nutrition in Animals and Plants
  • Light, Shadows And Reflections
  • Materials: Metals And Non-Metals
  • Matter and Its States
  • Metals and Non-metals
  • Micro Organisms: Friend And Foe
  • Motion And Measurement Of Distances
  • Motion And Time
  • Nutrition In Animals
  • Nutrition In Plants
  • Organization in Living Things
  • Our Environment
  • Physical And Chemical Changes
  • Pollution and conservation
  • Pollution Of Air And Water
  • Reaching The Age Of Adolescence
  • Reproduction In Animals
  • Reproduction In Plants
  • Respiration In Organisms
  • Rocks and Minerals
  • Separation Of Substances
  • Simple Machines
  • Soil
  • Some Natural Phenomena
  • Sorting Materials Into Groups
  • Sound
  • Stars And The Solar System
  • Structure of Atom
  • Synthetic Fibers And Plastics
  • The Living Organisms And Their Surroundings
  • Transfer of Heat
  • Transformation of Substances
  • Transportation In Animals And Plants
  • Universe
  • Waste-water Story
  • Water: A Precious Resource
  • Weather, Climate And Adaptations Of Animals To Climate
  • Winds, Storms And Cyclones

Middle School Math

  • Addition
  • Area and Its Boundary
  • Boxes and Sketches
  • Data Handling
  • Fun With Numbers
  • Heavy and Light
  • How Many
  • Long And Short
  • Mapping
  • Measurement
  • Money
  • Multiplication and Factors
  • Multiply and Divide
  • Numbers
  • Parts and Wholes
  • Pattern Recognition
  • Patterns
  • Play With Patterns
  • Rupees And Paise
  • Shapes And Angles
  • Shapes And Designs
  • Shapes and Space
  • Similarity
  • Smart Charts
  • Squares
  • Subtraction
  • Tables And Shares
  • Tenths and Hundredths
  • Time
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