Fundamentals of Business Mathematics & Statistics (FBMS | Maths) | CRACKER

Fundamentals of Business Mathematics & Statistics (FBMS | Maths) – CRACKER is a dedicated, exam-oriented question bank created to help students crack Paper 3 of the CMA Foundation examination conducted by the Institute of Cost Accountants of India (ICMAI). Because the Foundation paper is delivered entirely in an objective, MCQ/OMR format, the examination rewards two things above all else—conceptual recall and the ability to solve accurately at speed. This title is engineered for exactly that reality: it spends minimal time re-teaching theory and maximum time putting the student in the seat of the exam, question after question.

Each chapter opens with a concise revision of the key concepts and formulae, then moves straight into a comprehensive bank of multiple-choice questions. Crucially, the questions are not generic—they are drawn from actual past examinations, each one tagged with the term it appeared in and worked out with a step-by-step 'Working Note' so the student learns the method, not just the correct option. In total the book delivers 1,100+ MCQs (including original practice questions) and fully solved past-exam questions right up to the June 2026 exam, making it one of the most current revision companions available for this paper.

Current for the December 2026 & June 2027 Attempts.

The Present Publication is the 5th Edition | June 2026, authored by CA. Tarun Agarwal, with the following noteworthy features:

• [Fully Solved Past-Exam Questions till June 2026] The book compiles real past-examination questions and solves each of them, with coverage extending all the way to the most recent June 2026 paper—ensuring the practice set reflects current question trends rather than dated material
• [1,100+ MCQs Including Practice Questions] Beyond the solved past questions, the author supplies original practice MCQs, taking the total bank past 1,100 questions. This volume gives students the repetition needed to build both accuracy and speed under exam conditions
• [Descriptive Questions Converted into MCQs (Latest Pattern)] Because the Foundation paper moved to an objective format, descriptive questions from earlier exams have been re-cast as MCQs in line with the current pattern—so years of valuable exam history are preserved and delivered in the format students will actually face
• [Step-by-Step 'Working Notes' with Every Solution] Answers are not merely flagged; each is supported by a clear, worked 'Working Note' that shows how the result is reached. This turns the bank from a mere answer key into a self-teaching tool
• [Module-Wise Marks Distribution of Past Exams] A front-matter analysis charts how marks have been distributed across topics over recent June and December sittings (from 2023 to June 2026), complete with topic-level averages — effectively a built-in strategy map for prioritising study effort
• [Module-Wise Comparison with the ICMAI Study Material] Every chapter is cross-referenced to its corresponding official CMA module number, allowing seamless movement between this Cracker and the institute's study material
• [Tabular Quick-Revision Summary in Every Chapter] Each of the 27 chapters begins with a quick-revision summary of important concepts, properties and formulae, giving students an instant theoretical refresher before they attempt questions
• [Four Fully Solved Recent Papers (Dec 2024 – June 2026)] The book closes with the complete, solved question papers for December 2024, June 2025, December 2025 and June 2026, each presented with suggested answers and full working in the actual exam's section format

The syllabus is organised into 8 modules and 27 chapters, covering the complete spectrum of business mathematics and statistics required for the paper.

Module 1 – Arithmetic

• Ratios, Variations & Proportions
• Time Value of Money & Annuity (Simple & Compound Interest)
• Arithmetic Progression & Geometric Progression
• Time and Distance

Module 2 – Algebra

• Set Theory & Venn Diagram
• Indices & Logarithms
• Permutation & Combinations
• Quadratic Equation

Module 3 – Calculus | Application in Business

• Concept of Calculus and its Application in Business
• Revenue & Cost Function
• Optimization Techniques

Module 4 – Statistical Representation of Data

• Introduction
• Diagrammatic Representation of Data
• Frequency Distribution
• Graphical Representation of Frequency Distribution (Histogram, Frequency Polygon Curve, Ogive, Pie-chart)

Module 5 – Measures of Central Tendency & Dispersion

• Mean, Median, Mode, Mean Deviation
• Range, Quartiles & Quartile Deviation
• Standard Deviation
• Co-efficient of Variation
• Karl Pearson and Bowley's Co-efficient of Skewness

Module 6 – Correlation & Regression

• Scatter Diagram
• Karl Pearson's Co-efficient of Correlation
• Regression Analysis

Module 7 – Probability

• Concepts & Terminologies
• Primary Applications of Probability Theorems

Module 8 – Index Number & Time Series

• Uses of Index Numbers and Methods of Construction of Index Number
• Components of Time Series and Calculation of Trend by Moving Average Method

Solved Question Papers

Four complete past papers—December 2024, June 2025, December 2025 and June 2026—solved with suggested answers, reproduced in the real exam structure with two marks per question

The structure of the book is as follows:

The front matter opens with two planning tools—the Marks Distribution and the Study-Material Comparison. Each chapter then follows a consistent flow:

• Quick Revision of the Chapter/Important Concepts — A refresher of definitions, properties and formulae (present in all 27 chapters)
• Past Examination Questions — The core, organised into Numerical Questions and Theory Questions (a few longer chapters split these into Part-1/Part-2). Each MCQ is tagged with its exam term and solved with a Working Note. In-chapter questions span June 2013 to June 2024 (including older September/March sittings)
• Practice Questions — Additional MCQs to self-test (present in most chapters)

The book then proceeds through all eight modules, module by module, and finishes with the four solved papers.