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Contributions of Indian Mathematicians to Calculus in the Field of Finance

Description: This quiz is designed to assess your understanding of the contributions made by Indian mathematicians to the field of calculus in the context of finance.
Number of Questions: 16
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Tags: indian mathematics calculus finance
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Who is considered the father of Indian calculus?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama, who lived in the 14th century, is widely regarded as the father of Indian calculus due to his significant contributions to the field.

What is the name of the series developed by Madhava of Sangamagrama that is used to approximate the value of pi?

  1. Madhava series

  2. Gregory series

  3. Leibniz series

  4. Taylor series


Correct Option: A
Explanation:

The Madhava series, also known as the Gregory series, is a series expansion that approximates the value of pi. It was first discovered by Madhava of Sangamagrama.

What is the significance of the Madhava series in the field of finance?

  1. It is used to calculate the present value of a stream of cash flows.

  2. It is used to calculate the future value of a lump sum investment.

  3. It is used to calculate the internal rate of return of an investment.

  4. It is used to calculate the duration of a bond.


Correct Option: A
Explanation:

The Madhava series is used in finance to calculate the present value of a stream of cash flows, which is a fundamental concept in evaluating the value of an investment.

Who is known for developing the concept of 'infinite series' in Indian mathematics?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: A
Explanation:

Bhaskara II, who lived in the 12th century, is credited with developing the concept of 'infinite series' in Indian mathematics.

What is the name of the method developed by Bhaskara II for solving indeterminate equations?

  1. Chakravala method

  2. Kuttaka method

  3. Lagrange method

  4. Newton's method


Correct Option: A
Explanation:

The Chakravala method, developed by Bhaskara II, is an ancient Indian method for solving indeterminate equations.

How is the Chakravala method used in finance?

  1. It is used to solve problems related to compound interest.

  2. It is used to solve problems related to annuities.

  3. It is used to solve problems related to amortization.

  4. It is used to solve problems related to sinking funds.


Correct Option: A
Explanation:

The Chakravala method is used in finance to solve problems related to compound interest, which is a fundamental concept in calculating the future value of an investment.

Who is known for developing the concept of 'fluxions' in Indian mathematics?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama is credited with developing the concept of 'fluxions', which is a precursor to the modern concept of derivatives in calculus.

What is the significance of the concept of 'fluxions' in finance?

  1. It is used to calculate the rate of change of a function.

  2. It is used to calculate the slope of a curve.

  3. It is used to calculate the area under a curve.

  4. It is used to calculate the volume of a solid.


Correct Option: A
Explanation:

The concept of 'fluxions' is used in finance to calculate the rate of change of a function, which is essential for analyzing the performance of an investment over time.

Who is known for developing the concept of 'infinitely small quantities' in Indian mathematics?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama is credited with developing the concept of 'infinitely small quantities', which is a precursor to the modern concept of limits in calculus.

What is the significance of the concept of 'infinitely small quantities' in finance?

  1. It is used to calculate the present value of a stream of cash flows.

  2. It is used to calculate the future value of a lump sum investment.

  3. It is used to calculate the internal rate of return of an investment.

  4. It is used to calculate the duration of a bond.


Correct Option: A
Explanation:

The concept of 'infinitely small quantities' is used in finance to calculate the present value of a stream of cash flows, which is a fundamental concept in evaluating the value of an investment.

Who is known for developing the concept of 'series expansions' in Indian mathematics?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama is credited with developing the concept of 'series expansions', which is a fundamental concept in calculus.

What is the significance of the concept of 'series expansions' in finance?

  1. It is used to approximate the value of a function.

  2. It is used to calculate the present value of a stream of cash flows.

  3. It is used to calculate the future value of a lump sum investment.

  4. It is used to calculate the internal rate of return of an investment.


Correct Option: A
Explanation:

The concept of 'series expansions' is used in finance to approximate the value of a function, which is essential for analyzing the performance of an investment over time.

Who is known for developing the concept of 'differential calculus' in Indian mathematics?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama is credited with developing the concept of 'differential calculus', which is a fundamental branch of calculus.

What is the significance of the concept of 'differential calculus' in finance?

  1. It is used to calculate the rate of change of a function.

  2. It is used to calculate the slope of a curve.

  3. It is used to calculate the area under a curve.

  4. It is used to calculate the volume of a solid.


Correct Option: A
Explanation:

The concept of 'differential calculus' is used in finance to calculate the rate of change of a function, which is essential for analyzing the performance of an investment over time.

Who is known for developing the concept of 'integral calculus' in Indian mathematics?

  1. Bhaskara II

  2. Aryabhata

  3. Brahmagupta

  4. Madhava of Sangamagrama


Correct Option: D
Explanation:

Madhava of Sangamagrama is credited with developing the concept of 'integral calculus', which is a fundamental branch of calculus.

What is the significance of the concept of 'integral calculus' in finance?

  1. It is used to calculate the area under a curve.

  2. It is used to calculate the volume of a solid.

  3. It is used to calculate the present value of a stream of cash flows.

  4. It is used to calculate the future value of a lump sum investment.


Correct Option: A
Explanation:

The concept of 'integral calculus' is used in finance to calculate the area under a curve, which is essential for calculating the present value of a stream of cash flows.

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