## ABSTRACT

The literal meaning of probability is chance. The theory of probability deals with the laws of chances of occurrences of various phenomena that are unpredictable in nature. Probability has its origin in the game of chance. In the early sixteenth and seventeenth centuries, the owners of the gambling houses in Europe intended to explore whether one could nd out the probability of various events that take place during the gambling game, such as tossing a die or a coin, and roulette wheels. So, they contacted some of the prominent mathematicians of that time, say Pascal and Fermat. Thus, the theory of probability started its journey in the sixteenth century.