Why million, billion, lakh, and crore conversions are important for business?

Million, billion, lakh, crore, and other number conversions are very important for business dealings and investment. These conversions play an important role in business for dealing with other countries.

Each country has its own currency. In some regions, million and billion notations are used while in some regions, lakh and crore notations are used.

The people who want to do business with the other regions or want to invest in other countries must know these conversions. In this post, we will learn about the million billion conversions with examples.

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Million, Billion, Lakh, and Crore explained

The terms that are used to write a larger number easily are known as million, billion, trillion, and so on. A million contains 106, 1000000 is very large so can be written as one million to reduce the difficulty to read and write such a larger number.

On the other hand, one billion is equal to 109 or 1000000000, this is also a difficult number to read or write. So, to reduce this difficulty, we can write it as a billion.

The term lakh contains 105 or 100000 while the term crore contains 107 or 10000000.

 Million billion are used in European countries. While in the Asian countries, lakh and crore are used.


Why million, billion, lakh, and crore conversions are important?

Million billion, lakh, and crore conversions are very helpful in business, finance, and investment in the other regions. The businessmen who want to do business in other countries must use these conversions.

For example, a businessman from an Asian country wants to explore his business with the European countries, he must pay or get money in million or billion.

For doing business, he has to deal with numbers or send money to the European countries in million or billion. He must convert his currency from lakhs and crore to million and billion.

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Such as, he has to send the money round about 1.3 million to the European states then he must use any converter or formula to know how many lakhs or crore he has to send.

Million to lakhs = number in million x 10

Million to lakhs = 1.3 x 10 = 13 lakhs

This means that for sending 1.3 million, he has to pay 13 lakhs. Similarly, if a person wants to invest or want to start a business in Asian countries, he should use the million billion conversions.

For example, he has to send 23 lakhs to the Asian country, first, he will convert this payment to million or billion and come to know how many millions or billions equals 23 lakhs.

Lakhs to million = number in lakh / 10

Lakhs to million = 23/10

Lakhs to million = 2.3 million

This means that he will send 2.3 million to the other region to start his business. There are hundreds of online tools are present for such conversions. You can use following tool for the conversion of the numbers.

https://www.meracalculator.com/math/numconversions.php

 This tool is very helpful for converting the numbers in million, billion, lakh, and crore.


How to convert million and billion to lakhs and crores and vice versa?

For converting million and billion to lakhs and crores or lakhs and crores to million and billion we can use formulas. Let us take some examples.

Example 1: From Lakh to million

A company wants to start a business with an Asian country and they have to send 39 lakhs. Then how many millions do they have to send?

Solution

Step 1: Take the general formula to convert lakhs to million.

Lakh to million = number in lakhs / 10

Step 2: Now put the given value in the above formula.

Lakh to million = 23 / 10

Lakh to million = 2.3

Hence, they have to send 2.3 million.

Example 2: From million to lakhs

A person wants to invest in a European country and he has to invest 4.5 million. Then how many lakhs he has to pay that is equivalent to 4.5 million.

Solution

Step 1: Take the general formula to convert million to lakhs.

Million to lakhs = number in million x 10

Step 2: Now put the given value in the above formula.

Million to lakhs = 4.5 x 10

Million to lakhs = 45

Hence, he has to invest 45 lakhs.

Example 3: From billion to crore

A company wants to invest in a European country and they have to invest 5.5 billion. Then how many crores do they have to pay for investments that are equivalent to 5.5 billion?

Solution

Step 1: Take the general formula to convert billions to crores.

Billion to crore = number in billion x 100

Step 2: Now put the given value in the above formula.

Billion to crore = 5.5 x 100

Billion to crore = 550

Hence, they have to invest 550 crores.

Example 4: From crore to billion

A person wants to start a business with an Asian country and he has to pay 135 crores to that country for a business. Then how many billions he has to pay?

Solution

Step 1: Take the general formula to convert crore to billion.

crore to billion = number in crore / 100

Step 2: Now put the given value in the above formula.

Crore to billion = 135 / 100

Crore to billion = 1.35

Hence, he has to pay 1.35 billion.

Example 5: From million to billion

A person wants to start a business of clothes and he invests 146 million on this. Then how many billions he has invested?

Solution

Step 1: Take the general formula to convert million to billion.

Million to billion = number in million x 0.001

Step 2: Now put the given value in the above formula.

Million to billion = 146 x 0.001

Crore to billion = 0.146

Hence, he has invested o.146 billion in the business of clothes.


Bottomline

The above-discussed conversions are very useful in dealing with routine transactions. These conversations play a vital role in the business and investment. Now you can grab all the basic concepts by following the above examples and you can easily solve these conversions problems.

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