Many times you have 10K or 100K numbers in personal finance portals such as how to invest 100K or the best way to invest 100K (as shown below). This term 100K is also very popular on social media where the followers or views are shown in 1K, 10K, or 100K, and so on.
The letter ‘K’ represents the number of zeroes that follow the number. Let’s understand the meaning of 100K in an easy way.
What Does 100K Mean?
The term “100K” is a shorthand way of writing the number 100,000. The “K” in 100K is a Greek abbreviation for “Khiloi,” which means thousand. Later the “Khiloi” word became “Kilo”.
“1K” means 1000 or 1 thousand
“100K” means 100000 or “100 thousand” or “1 lakh”
“1M” means 1000000, “1 Million” or “10 lakhs” or 1000K
In finance, the “K” abbreviation is commonly used to denote thousands of dollars, rupees, or other currencies.
For example, if a job opening states a salary of “100K,” it means that the annual salary is Rs 1,00,000 (in India) or $100,000 (in the USA). Similarly, in business, the term “100K revenue” means that a company has earned 100,000 in revenue over a certain period.
The significance of 100,000 in different contexts varies. For example, in time, 100,000 seconds is about 27.8 hours, while in distance, 100,000 meters is equivalent to 100 Kilometers or about 62 miles.
When it comes to social media, “100K followers” is a milestone that many influencers and content creators strive to achieve. 100K here means that your account has reached 100,000 followers, indicating a certain level of popularity and influence.
How Much is 100K in Indian Rupees?
The value of 100K in Indian Rupees (INR) is 1 lakh rupees (1,00,000).
If you compare 100K US Dollars with INR, using the current exchange rate, 100K USD is worth around Rs 8.4 million or 84 lakh rupees (1 USD = 84 INR).
Value of 100K in Investing
In investing, 100K can be a decent amount for you to start your investing journey.
For example, if you invest 100K in mutual funds and assume you get 15% annualized returns, your money will double in 5 years only.
However, you shouldn’t wait to save 100K to start investing, you should start with whatever amount you can set aside for investing. You can even start investing Rs 500 or invest 5000 rupees in the share market and gradually increase the investment amount.
You should start investing in SIP which would make you a disciplined investor to enjoy the power of compounding if invested for a longer period such as 5 years or 10 years.
It depends on various factors such as your profession, skills, experience, location, and market demand.
For example, in India, some high-paying jobs such as software engineering, medicine, or finance can pay Rs 100K or more per month, while others may take several years or decades to reach that level.
It also depends on your savings and investment habits, as well as your spending patterns and lifestyle choices.
100K’s monetary value depends on your perspective and context.
For example, for a poor person who needed Rs 100K for his kid’s treatment, could be a significant amount of money that can save his kid’s life, while for you, it may not be enough to meet your expenses or future goals.
The cost of living, inflation, taxes, and other factors also affect the purchasing power of 100K, so it’s essential to consider these factors while assessing its value.
There are five zeros in 100K (100,000).
No difference. Both 100K and 1 lakh denote the same value of 100,000.
However, “lakh” is a commonly used term in India, Pakistan, Bangladesh, and other South Asian countries to represent one hundred thousand.
The term “lakh” comes from the Sanskrit word “Laksh” which refers to the number 100,000. In some cases, lakh is abbreviated as “L” or “lacs.”