One lakh (often abbreviated as L) is a unit in the Indian numbering system equivalent to one hundred thousand (100,000). It represents the value of 105 in scientific notation.
Understanding the Indian Numbering System
The Indian numbering system uses different grouping conventions for digits than the Western system, which is common in many parts of the world. While the Western system groups digits in sets of three (thousands, millions, billions), the Indian system groups digits in sets of two after the first three, particularly for larger numbers like lakhs and crores. This unique structure helps in expressing large monetary and population figures prevalent in countries like India, Pakistan, Bangladesh, and Nepal.
Value and Representation
A lakh signifies a quantity of one hundred thousand. In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. This differs from the Western way of writing one hundred thousand, which is typically 100,000.
To illustrate the difference in notation:
| Value | Western Notation | Indian Notation |
|---|---|---|
| One Hundred | 100 | 100 |
| One Thousand | 1,000 | 1,000 |
| Ten Thousand | 10,000 | 10,000 |
| One Lakh | 100,000 | 1,00,000 |
| Ten Lakhs | 1,000,000 | 10,00,000 |
| One Crore | 10,000,000 | 1,00,00,000 |
For more details on number systems, you can refer to resources like Wikipedia on Large Numbers.
Common Usage and Examples
The term "lakh" is widely used, especially in financial and demographic contexts within the Indian subcontinent.
- Financial Transactions: Prices of goods, salaries, and project costs are frequently quoted in lakhs.
- Example: "The new car costs eight lakhs rupees" (₹8,00,000 or ₹800,000).
- Example: "Her annual salary package is fifteen lakhs." (₹15,00,000 or ₹1,500,000).
- Population Figures: Population data for towns or districts might be expressed in lakhs.
- Example: "The town has a population of three lakhs fifty thousand people" (3,50,000 people).
- Statistics and Data: Reports on sales, production, or government spending often utilize lakhs.
- Example: "The company sold one lakh units last quarter."
Abbreviation and Pronunciation
- Abbreviation: Lakh is commonly abbreviated as L (e.g., ₹5 L for five lakh rupees).
- Alternative Spelling: Sometimes, it is also written as lac.
- Pronunciation: The term is pronounced as /læk/ or /lɑːk/.
Understanding "one lakh" is crucial for anyone engaging with financial news, statistics, or cultural references from regions that use the Indian numbering system. It simplifies the communication of large figures that would otherwise sound more cumbersome in other systems.
