What does 1 Million mean?
In mathematical terms, 1 million is 1000, 000 and is written as one thousand thousand. There are different ways of expressing 1 million in different countries. The place value of the digits of this number can be represented as follows:
As you can see, one million appears after hundred thousand in the place value chart and is followed by ten million.
Mathematically, 1000, 000 is the succeeding number to 999, 999 and the preceding number to 1000, 001.
By adding and subtracting ‘1’ from these two numbers respectively, we will arrive at ‘1 million’.
999999 + 1 = 1000000
1000001 – 1 = 1000000
1 million can be expressed in exponential form as well.
1000, 000 = \(1~\times~10^6 \)
Place Value Chart
The value of each digit in a number can be determined using a place value chart. In order to determine the value of the various digits in a number, we need to place the given number into the place value chart so that the place value of each digit can be observed. The image shows us how a place value chart looks like.
Converting Millions to Billions
Although the numbers millions and billions are larger, a basic multiplication operation is all we need to convert them. So, to convert a million to a billion we just have to divide the given number by 1000.
Million to billion \(=~\frac{(Given~value~in~million)}{1000} \) billion
[Note: Similarly, we can even convert a billion to a million by multiplying the billion value by 1000.]
Converting Millions to Trillions
We will now try converting millions to trillions. It may sound a bit challenging but we need to do a similar thing as we did to convert a million to a billion. Here, instead of dividing by 1000, we divide the given number with 1000000.
Million to trillion = \(=~\frac{(Given~value~in~million)}{1000000} \) trillion
[Note: By multiplying the million value by 1000000, we can convert a trillion to a million.]
Rapid Recall
Learn More About Millions in This Video
Solved Examples
Example 1: Samuel is a real estate agent. One of the plots of land that he wants to sell is around 1 million dollars. He has a total of 7 plots in the same neighborhood. What will be the total cost of all the plots that Samuel will sell?
Solution:
Cost of one plot of land that Samuel is planning to sell = 1 million dollars.
Therefore, the cost of 7 plots will be more than 1 plot of land.
Total cost of the 7 plots = 1 million x 7
= 1, 000, 000 x 7
= 7, 000, 000
Hence, the total price of the 7 plots is $7, 000, 000.
Example 2: How many thousands are there in 3 million?
Solution:
As we know, 1 million = 1, 000, 000 or one thousand thousand.
Thus, 3 million = 3 x 1, 000, 000 = 3, 000, 000 or three thousand thousand (in words).
Number of thousands in 3 million = 3, 000, 000 ÷ 1000
= 3, 000
Therefore, there are 3000 thousand in 3 million.
Example 3: The cost of 12 luxury vehicles is 24 million dollars. What is the cost of a single luxury vehicle?
Solution:
Here, the cost of 12 luxury vehicles = 24 million dollars
Thus, the cost of 1 luxury vehicle will be quite less. So, we will divide 24 million by 12.
Cost of 1 luxury vehicle = 24, 000, 000 ÷ 12
= 2, 000, 000
Therefore, the cost of 1 luxury vehicle is $2, 000, 000.
The value of 1 million is one thousand thousand.
One thousand million is equivalent to 1 billion. We can write it as one million is one-thousandth of a billion as well.
The value of 1 billion is a thousand million or 1000 million.