Hello everyone! We all know how helpful mathematics has been for everyone in the world till now and we all know this all well that mathematics will be helpful to all of us throughout our lives. Go on and search around yourselves you would find math everywhere in nature, in technology, in food the list is infinite. Today I’ll share a story of billion dollars and exponential growth and how it works.
Mathematics sometimes is our life savior (like this article you are reading) and sometimes it can even make you a billionaire. I know you all must be thinking I’m joking but no trust me, today I’m going to share a story of billion dollars and “Exponential growth”.
So, today I’ll share a short story about exponential growth and how it works so keep on reading as it would blow your mind. But before moving forward let’s understand what exponential growth is. This would help you understand better!
More interesting read: Hello mathematician, give me the answer otherwise I’ll kill you.
Exponential Growth in easy words is a process that increases quantity over a while. It occurs when the rate of change (that is, imitative of the work) of a particular quantity keeps in mind the time which is proportional to the same quantity itself.
Let’s suppose we describe it as a “function”, a quantity which would go under the exponential growth is an “exponential function” of that particular time. This means that the variable showing time is the exponent. If we see in contrast it can be quadric growth as well because it depends.
Also, if the proportionality is constant but it is negative then with time the quantity would get decreased and that would be said as the ‘exponential decay’. If the case is of a distinct range of definition which has equal intervals then that particularly is known as ‘geometric decay or geometric growth’. Because the function value is formed by a geometric progression.
So, this was a little overview of story of billion dollars and “Exponential Growth”. Now let’s look at a small story and how it all works!
Let’s suppose you are having a job which is paying you 50 lakhs, per day.
So now how long would it take you to save up a total of a billion dollars?
Give a guess! And the answer is 30 years.
This was one side of the situation. Now instead let’s suppose you had a job that was paying you 1 paisa on the first day and it kept getting doubled every day like on the second day you got 2 paise then on the third day 4 paisa and so on.
So now let me ask you how long would it take you to save up a total of billion dollars?
Again, give it a guess! As the answer is: under 48 days only.
Is your mind blown? You are welcome! It’s tricky to understand but if we look at it with a practical mindset then it would be very easy to work out.
So, this was a short story of billion dollars and exponential growth and how it works. Let us know what are your thoughts on this theory in the comments and do give it a try if you ever get a chance. I hope this story was fun and informative to you all. Thank you!