A logarithm is the power to which a number (the base) must be raised to produce a given number. In simple terms, a logarithm answers the question: 'How many of one number do we multiply to get another number?'
The relationship is expressed as log_b(x) = y, which is equivalent to b^y = x. Here, 'b' is the base, 'x' is the argument (or number), and 'y' is the logarithm.
Common and Natural Logarithms
1. Common Logarithm (log): This is the logarithm with base 10. It's widely used in science and engineering. If no base is written, it's usually assumed to be 10 (e.g., log(1000) = 3).
2. Natural Logarithm (ln): This is the logarithm with base 'e' (Euler's number, approx. 2.71828). It is crucial in calculus, physics, and finance for modeling continuous growth.