Algebra is mathematics that involves the use of letters and other symbols which are used to represent numbers, equations, and quantities in formulae. Unlike what most people,. It is difficult to move in and out your house, go to work every day and counter life issues without the practical aspect of algebra.
How We Use Algebra In Our Real Lives?
1. Used For Loans
When you take out a loan, you are expected to pay interest on the loan. The language of algebra is used to calculate the interest you pay on loans. Also, business relies on algebra to get the lowest cost of financing their business to get money to finance daily operations of the business, long-term investments and building a new plant or factory.
2. Interest on Savings
The chances are that you have savings or an investment portfolio. In most cases, you will expect a compound interest in your investment or savings. It is knowledge of the rules of algebra that will enable you to know the amount to expect. Businesses also rely on these rules of algebra to manage their investment portfolios.
3. To Build a Landscape
If you have ever needed to landscape your yard or make some improvement to your home, you need to calculate the amount of area to cover with grass, paint, or weed inhibitor. You will also need to get a cost estimate of the amount it will cost to complete the project. You need algebraic rules to calculate the cost and how much you will need for the project and also project the number of tools you need for the project.
4. Helps in Sales
If you are into sales, you may need to make a sales projection for certain period, maybe for a quarter or a year. You need to make a line to connect your sales level for the past few years and project into the future. You will need to apply the rules of algebra (that is linear equations) to make a better sales projection.
If you are preparing a meal for a bigger or smaller number of people than what is written in your recipe book, you may need to adjust the recipe quantity. You will need to change the proportion of the ingredients to match the number of servings you need. This also comes in handy for restaurants. You will need your knowledge of algebra to make the necessary conversions.
6. Convert Currencies
When you take a trip to a country where a different currency, you need to convert of your currency to the country’s base currency is a necessity. Your knowledge of conversions comes in handy here. Also, companies that have branches, offices or manufacturing plants in a country where a different currency is used also need a good knowledge of the rules of algebra (conversion of currencies) to transact in these other countries successfully. It can be extremely helpful and even vital in some work places.