You might not have realized it, but our million to lakh converter might be the tool that has been missing in your life. Let's consider this, you might have read or seen in the news that company X signed a $3 million deal with company Y, or an engineer demanded Rs 80 Lakh (Rs - Indian Rupee) to complete the [steel bridge project. You were left scratching your head, how much is a million, or how many lakhs are in a million?
If this is your case, then our million to lakh converter is the tool you need! It will even resolve your query of how to convert million to lakhs.
Why convert millions to lakhs?
Let's picture this: it's a Sunday afternoon, and you are sitting at home and planning your next vacation. You look at your bank account and think how much more you need to save to become a millionaire if you count your currency in the Indian place-value system. All you need is to convert your savings from lakhs into millions; before you know it, you are already a millionaire.
For instance, you decide to convert the 18 lakhs that you have in your account to millions. You divide it by 10 to obtain 1.8 million. That deserves a pat on the back because you are a millionaire already! Based on this newfound information, you may want to set some saving goals using our savings goal calculator.
The conversion ratio of millions to lakh is 1:10, meaning 1 million = 10 lakhs.
So the answer to your question, "1 million equals how many lakhs?" is 10.
But if you are confused or unsure about these two values, the difference between these two digits is really only in their place values, which you will learn in detail in the next section.
What is lakh? Lakh definition
We have already talked so much about why we should convert million to lakh and lakh to million, but what is lakh, what does lakh mean, and most importantly, what is lakh in India? These are just a few of the many questions that relate to lakh. So, the first thing would be to learn the definition of lakh. Lakh is a unit in the Indian place-value system that is equal to a hundred thousand. It is written as 1,00,000.
It originated in India and was initially used to represent a stake in gambling.
You might find yourself in a situation where you don't have the number written in front of you but need to know how many zeros in 1 lakh, then you should know 1 lakh has 5 zeros.
So, now if your teacher unexpectedly asks, "How much is 1 lakh or how many zeros are there in 5 lakhs?" You can proudly raise your hand and answer the questions.
Place value systems
Place value is the value of each digit in a number based upon the digit's position. For instance, the number has the same digits twice, but they differ in value. Twenty-two comprises of . A two in the ones place and the other two in the tens place, making it twenty.
In our million to lakh converter, we focus on two place value systems:
International place value system
The international place value system is the numeral system used all around the globe except for a few countries which use, e.g., the Indian place-value system. The counting is ones, tens, hundreds, thousands, millions, and billions. The number
2,345,674reads as two million, three hundred and forty-five thousand, six hundred and seventy-four in the international place-value system.
Indian place-value system
The countries using the Indian place-value system are Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka, and Pakistan. The counting is in ones or units, tens, hundreds, thousands, and lakhs. In the Indian place-value system, we read the number
23,45,674as twenty-three lakhs, forty-five thousand, six hundred and seventy-four.
Now let's consider the number given in the example column of the table.
3456789 this number can be written in two different ways.
International system, 3,456,789 - 3 million, 4 hundred 56 thousand, 7 hundred and thirty-nine.
Indian system, 34,56,789 - 34 lakhs, 56 thousand, 7 hundred and thirty-nine. Notice the difference in the placement of periods. That is what makes the two numbers different visually, although numerically, they represent the same amount.
To read about more place values and convert other digits, check out our crore to million converter.
How to convert million to lakhs?
We know that 1 million is equal to 10 lakhs, making that conversion easier to understand and do bidirectionally:
Million to lakhs conversion
The conversion of millions to lakhs is a fairly simple calculation to make. The formula is:
For instance, if you want to convert 6 million to lakhs, multiply 6 by 10, and the answer is 60 lakh.
Lakhs to million conversion
Since we know that the ratio of million to lakh is 1:10, we can switch the formula for million to lakh conversion and convert lakh to million.
For instance, if you want to convert 75 lakh to millions, divide 75 by 10, and the answer is 7.5 million.
So now, if you ever need to, you know how to convert million to lakhs and vice versa at your fingertips.
And if you are still curious about more place value figures, you may check out our crore to lakh converter.
1 million is equal to how many lakhs?
1 million is equal to 10 lakhs.
If you need to convert any number in millions to lakh, remember the conversion ratio is 1:10, by multiplying any number given in millions by 10, you are converting it to lakhs.
20 million is equal to how many lakhs?
20 million is equal to 200 hundred lakhs. The conversion ratio of million to lakh is 1:10.
So, you can simply multiply your amount in millions by 10 and you will get the amount in lakhs.
How much is 1 lakh?
1 lakh is equal to 1 hundred thousand. Numerically both are the same number but represent different place-value systems.
One lakh is used in the Indian place-value system, whereas its international place value counterpart is called one hundred thousand.
1,00,000 = 100,000
1 lakh has how many zeros?
There are 5 zeros in 1 lakh. It is also called a hundred thousand in the international system.
It is used in some countries for counting currency/numbers. India , Pakistan, Nepal, Sri Lanka, Bangladesh, Bhutan and the Maldeves are the countries which use the Indian place-value system.