ECON 1003

Mathematics for the Social

Sciences I

Unit 2 Part 3
Exponential and Logarithmic Equations

1
 Exponential and Logarithmic Equations
Exponential
• ax for which a>0 and a ≠ 1;
a must be positive but not equal to 1
• x is real
• The constant a is called the base
• x the exponent
Logarithms
• f(x) = logax for which a>0 & a ≠ 1
• x is a positive real number.
• ‘a’ is also called the base
• If the value of the base, a is equal to
the exponential e, we have a natural
logarithm: logex or ln x
• When log x is written without a base,
it must be understood that the base
will be 10 – common logarithm. Logx
The Exponential and Logarithmic functions are
inverse functions of each other
The Exponential and Logarithmic functions are
inverse functions of each other
• 2x =16 Example
If you take 2 to some power x, you get 16 • 100 = 102
This is an example of an exponential function. It
• log216 = x is saying 10 raised to the power of 2 gives 100
log of 16 to the base of 2 is equal to x in other In order to write as a logarithmic function, we
words to what power must I raise 2 in order for ask: what power must I raise 10 to in order to
me to get 16. get 100? The answer is 2
• log10100 = 2
Another example
1
• Log5( )= -3
125
Write as an exponent:
1
• 5 raised to the power of -3 is
125
1
• 5-3 =
125
Rules of Exponents
Rules of Logarithms
Solving Exponential and Logarithmic Equations
• Use the Rules of Exponents and Logarithms to solve or simplify and
then eventually solve.
• The objective is to express the LHS and RHS in a common base
therefore we equate the exponents then solve. At times though you
may need to convert the exponent to a logarithm and vice versa.

The logarithm of a number to a given

base is the exponent to which the base
must be raised to the number.

logba = x ➔ a= bx
 Compound Interest
and
Compounded Continuously
• A=Pert
• A(t) = P(1+r/n)tn
Where:
• P = principal amount (the initial amount you borrow or deposit
• r = annual rate of interest (as decimal)
• t = number of years the amount is deposited or borrowed for
• A = amount of money accumulated after n years, including interest
• n = number of times the interest is compounded per year
 Activity 2.5 – Q1 Exponential Equations

(a) 36x+1= 3x+16 (b) 4x+3=210

 Solution

(a) 36x+1= 3x+16 (b) 4x+3=210

Bases are the same : equate powers Make the bases the same

22 𝑥+3
= 210
6𝑥 + 1 = 𝑥 + 16 Equate powers

6𝑥 − 𝑥 = 16 − 1 2 𝑥 + 3 = 10
5𝑥 = 15 2𝑥 + 6 = 10
𝑥=3 2𝑥 = 10 − 6
2𝑥 = 4
𝑥=2
Activity 2.5 – Q1 Exponential Equations
 Activity 2.5 – Q1 Exponential Equations
𝑥−2 (2x-2) 1 1-6x
e 3 = 81 (f) 3125 =( )
∛5
 Solution
𝑥−2
e 3 = 81 1
(f) 3125(2x-2)=( )1-6x
∛5
Make the bases the same
1
3
1Τ (𝑥−2)
2 =3 4 55(2x-2) =( )1-6x
5^1/3
Equate powers

1 55(2x-2) =5-1/3(1-6x)
𝑥−2 =4
2 5(2x-2)=-1/3(1-6x)
𝑥−2 =2×4
15(2x-2)=-(1-6x)
𝑥−2=8
𝑥 =8+2 30x-30= -1+6x
𝑥 = 10 24x = 29

x = 29/24
 Activity 2.5 – Q1 Exponential Equations
(g) 7x-1=3 (h) 5k+3=83k
 Solution
(g) 7x-1=3
 Solution
(h) 5k+3=83k
 Activity 2.5 – Q2 Exponential Equations
If the population of Chile at the How long will it take Chile’s
start of 2006 was 16 million and population to reach 20 million?
the annual growth rate is 1.06%.
• What will be Chile’s population
at the start of 2011?
Solution
 Activity 2.5 – Q3 Exponential Equations
If Karen makes an initial deposit of $200,000 into a fund, which offers an annual
interest rate of 6% compounded quarterly. What would be her account balance
in 10 years time?
 Solution
If Karen makes an initial deposit of $200,000 into a fund, which offers an annual
interest rate of 6% compounded quarterly. What would be her account balance
in 10 years time?
 Activity 2.5 – Q4 Exponential Equations
Approximately how long will it take to triple an investment at 9%
compounded continuously?
 Solution
Approximately how long will it take to triple an investment at 9%
compounded continuously?
Activity 2.5 – Exponential Equations
 Solving Logarithmic Equations

The logarithm of a number to a given base is the exponent to which

the base must be raised to get the number.
logba = x ➔ a= bx

Check answers to ensure you are not finding the log of a negative number. Eliminate where required.
 Activity 2.6 – Q1 Logarithmic Equations
(a) log41024=x (b) log16x=1/4
Solution
 Activity 2.6 – Logarithmic Equations
(c) logx+19=2 (d) logx4096=4
Solution
 Activity 2.6 – Logarithmic Equations
(e) log2(x2-6x)-3 = log2(1-x) (f) 2 log4(√x) = log4(9x-2)
Solution e
Solution f
 Activity 2.6 – Logarithmic Equations
(g) log4(x2+x-20)=log4(3x+4) (h) log(8x-15)-log3=log(2x+1)
Solution
 Activity 2.6 –Q2 Logarithmic Equations
If the supply of a commodity is given by p=35+4ln(2q+1), where p is the
unit price and q is the number of units supplied. Determine how many
units will be supplied at a unit price of $54.80.
Solution
 Activity 2.6 – Q3 Logarithmic Equations
If the demand function for a commodity is p=700/ln(q+1), where p is
the unit price and q is the number of units demanded. Determine how
many units will be demanded at a unit price of $159.29.
Solution