Project On Business Mathematics and Stastatics

PROJECT ON BUSINESS MATHEMATICS AND
STASTATICS
APPLICATION
OF
MATRIX ALGEBRA IN REAL LIFE BUSINESS PROBLEM
Guided by: Submitted by:

Mrs. Kausalya Kisan Bishal Tandi
Lect. In Commerce, Balangir Exam Roll No: 532BA001
Rajendra Higher Secondary School, Reg. No-BA32C19060
Balangir Rajendra Higher Secondary
School, Balangir
RAJENDRA HIGHER SECONDARY SCHOOL, BALANGIR

(SESSION -2020-22)
Date:
Place: Balangir Signature of Student
Signature of the Internal Examiner Signature of the External Examiner

ACKNOWLEDGEMENT
I would like to express my gratitude to my subject teacher of
mathematics; Smt. Kausalya Kisan. Who gave me the amazing
opportunity to do this wonderful project report on Matrix Algebra.
Secondly, I would also like to thank my parents and friend who helped
me a lot in finalizing this project within the stipulated time frame.
Signature of the student

Exam Roll No: 532BA001
CERTIFICATE
This is to certify that Bishal Tandi of +2 second year
commerce has successfully completed the project report on
application of matrix algebra in real life business problems as per the
guidelines of class XII of H.S. Examination conducted by C.H.S.E
Odisha. It is further certifying that this project is the individual and
bonafide work of the candidate.
Teacher’ Sign: -
Teacher’s Name: -Mrs. Kausalya Kisan
CONTENTS
SL.NO TITLE OF THE WORK PAGES
.
1. Problem details(facts of the 5
problem)
2. Required Information 6
3. Steps to solve the problems 7
4. Analysis and Interpretation of 8
the problem
5. Conclusion 9
6. Reference 10
COMPREHENSIVE PROBLEM
FACTS OF THE PROBLEM:-
Company’s name: Marti Suzuki India Limited
Background of the company:
Maruti- Suzuki India Limited, formerly known as Maruti Udyog
Limited as a joint ventured Automobile manufacturer in India since
1980 Now, it a subsidiary company of SUZUKI MOTOR
CORPORATION, Japan. Suzuki Corporation hold 56.21% of the
equity of the total investment in the business. As on January 2016,
Maruti-Suzuki had the market share of 47% in the car market in India.
At present, Maruti-Suzuki manufactures and popular car model such
as Beleno, Vitara brazza, Swift-Zen, Celerio, Swift-Dzire, SX4. And
Omni. Its Maruti-800 model was the most popular brand/model which
gave the Maruti an recognition in the car market in India, but that has
been replaced by other models. The head quarter of the company is at
New Delhi.
The problems relates to the amounts of investment need to
manufacture three models in the month of August 2021.
PROBLEM STATEMENT/INFORMATION
The total cost of manufacturing three types of car in the month of August 2021
is given by the following table.
Labour (hours) Materials (units) Sub-contracted

work(in units)
Beleno 40 100 50
Vitara brezza 80 150 80
Swift Dzire 100 250 100
Labour costs Rs. 2, 000 per hour, units of materials cost Rs. 500 each and units
sub-contracted work cost, Rs. 1,000 per units of manufacturing of each car and
the total cost of manufacturing 3, 000 Beleno , 2, 000 Vitara Brezza and 1, 000
swift Dzire Cars in the month of august 2021.
STEPS TO SOLVE THE PROBLEM:
TOOLS: Matrix Multiplication Method:
Let P represent labour hours Materials used and sub-contracted work for three types of
cars and it is presented in the Matrix from here as under:
Labour(hour) Material(units) Sub-contracted work
[ ]
Beleno 40 100 50
P= Vitara Brezza 80 150 80
Swift Dzire 100 250 100
Further, let the matrix Q represent Labour Cost per hours, Material cost per unit and
unit cost of sub-contracted work.
[ ]
2000 Labour cost hour
Q= 500 Material Cost per unit
1000 ¿−contracted cost per unit
SOLUTION
The cost of each car of the model Beleno, Vitara-Brezza and Swift Dzire is now
given by the column as follows:
[ ][ ]
40 10050 2000
PQ= 80150 80 × 500
100250 100 1000
[ ]
40 ×2000+100 ×500+50 × 1000
= 80× 2000+150 ×500+80 ×1000
100× 2000+250 ×500+100 ×1000
[ ]
180000
= 315000
425000
As per the decision of the company, the number of cars produced in the
month of August 2018 in three different models is Beleno -3000, Vitara Brezza-
2000 and Swift Dzire-1000. The information regarding the volume of
production are represented by row matrix as:
Beleno Vitara Brezza Swift Dzire
R= [ 3000 20001000 ]
Hence, the total cost of manufacturing three models in the month of August
2016 is given by
[ ]
180000
PQ× R = 315000 × [ 3000 2000 1000 ]
425000
Total cost = 180000×3000+ 315000× 2000+425000 ×1000

= Rs.1595000000= Rs.159.50Cores
CONCLUSION
The above solution reveals that the manufacturing cost per unit of
different Models are: Beleno Rs.180000, Vitara Brezza Rs.315000
and Swift Dezire- Rs.425000. It is found that cost of Swift Dezire is
the highest and the cost of manufacturing of Beleno model is lowest.
The total cost of producing 3000 Beleno 2000 Vitara Brezza and
1000 Swift Dezire is Rs.159.50 Cores. Thus, a sum of Rs.159.50
Cores is needed for the manufacturing of the three models in the
month August2021.
REFERENCE
1. Business Mathematics and Statistics, Patri & Patri(2020)
Kalyani publishers .
2. Business Mathematics and Statistics, Odisha Text Book
Bureau Bhubaneswar.
3. www.Maruti Suzuki India Ltd.
4. Car market- A month journal, December 2020.

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PROJECT ON BUSINESS MATHEMATICS AND

Guided by: Submitted by:

RAJENDRA HIGHER SECONDARY SCHOOL, BALANGIR

Signature of the Internal Examiner Signature of the External Examiner

Signature of the student

Labour (hours) Materials (units) Sub-contracted

Total cost = 180000×3000+ 315000× 2000+425000 ×1000

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