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This book discusses about the basic topics on inequalities and their applications. These include the arithmetic mean-geometric mean inequality, Cauchy-Schwarz inequality, Chebyshev inequality, rearrangement inequality, convex and concave functions and Muirhead's theorem. The book contains over 400 problems with their solutions. A chapter on geometric inequalities is a special feature of this book. Most of these problems are from International Mathematical Olympiads and from many national mathematical Olympiads. The book is intended to help students who are preparing for various mathematical competitions. It is also a good source book for graduate students who are consolidating their knowledge of inequalities and their applications.