Have you ever heard a phrase like “I have won 1k” or “the prize money is 10k”, etc? You might have heard this type of phrase from your family members, friends, or any interview on business-related topics. While you are listening, you understand that the phrase is indicating a lot of money but you might be wondering about the value of “k” with the number, right? So, how much does “k” mean for money, and why do we say “k”?
If you are using “k” for money and other non-computer values then k means one thousand (1000). So $1k means ($1*1000) = $1000 and $10k means ($10*1000) = $10,000. Here, K comes from Kilo which means 1000. It’s part of the family of standard numeric prefixes that are used for Metric prefix numbers.
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What Does K Mean In Money?
In money, K means 1000. The use of k comes from the prefix “Kilo.” Kilo is related to Kilogram or Kilometer. When you are using the metric system, a kilo means 1000. So,
1K = 1,000
10K = 10,000
100K = 100,000
1,000K = 1,000,000
If we take a close look at kilogram and kilometer then will have a clear idea about how “K’ works. For example, if you multiply 1gm with 1000 then it will become 1000gm. And, we know that 1000gm is equal to 1 kilogram. Similarly, 1000 meters means 1 kilometer.
The Kilo Etymology
The term “kilo” to refer to 1000 was first used in 1795 in France by people who originally invented the meter stick. Though, the concept of Kilo was inspired by words of other languages. For example, in the Greek language, 1000 is “Khilioi.” On the other hand, the word “Khilioi” comes from the Proto-Indo-European word “Gheslo”; which also means 1000. So, basically, French people revived and reinvented a word that was dead for several centuries.
Why Do We Use K For Money?
The Metric system is far more understandable than the imperial system. When someone says 1 kilometer or one kilogram we easily understand it’s 1000 meters or 1000gm. So, it becomes quite clear that “kilo” or “k” means 1000. So, people decided to use the familiar term “k” for 1000 in other aspects of life like money. This is how the use of “K” for money has started.
There are many nicknames available for “K” or 1000. In, non-professional situations, we use other types of words or slang to refer to 1000 or k. Over the years, 1000 has been given several nicknames though these nicknames are popular amount certain group of people of a certain location or country. Therefore, many of us don’t familiar with these nicknames related to K. Some nicknames related to 1000 or k are –
FAQs About What Does K Means In Money
What Is 1k In Money?
When you are using k in money like 1k, 2k, 5k, etc. then it means thousands (1000). So, 1k means one thousand dollars. Money doesn’t go by weight, it goes by value.
What Does K Stand For Next To A Number?
When you put k next to a number in the Metric system it means one thousand. Here K is the short form used for “kilo.” So if you put k after 10 like “10k” then it means (10*1000) = 10,000 (ten thousand).
How Much Is A 1000k?
1000k is equal to 1 million. Check it below –
1000K = 1000*1000
= 10 lack
= 1 million
What Is Meant By 1.1 K?
1.1k means one thousand one hundred (1100).
What Is 50k Money?
50k money means $50,000. Here the letter K is used as a multiplier for the numeric equivalent of 1,000. So, 50k means fifty thousand dollars.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.