Larger numbers are frequently expressed in math using exponential notation or by using terms like million, billion, and trillion. Only one letter separates the phrases “million” and “billion,” but that one letter indicates that one is a thousand times greater than the other.
Everyone knows about million and billion but can’t distinguish between them instantly. Many people confuse their digits and the number of zeros.
One billion is made up of one thousand times one million. This is due to the fact that one billion is equal to 1,000,000,000. To put this into perspective, you would need to save an additional 999 million dollars if you had a million dollars and wanted to transform it into a billion.
Simply put, one million has 6 zeros while one billion has 9 zeros when written in numeric or currency format.
Here, we will discuss the difference between them to make it easy for you.
What is Meant by A Million?
A character for this number is 1,000,000 or M̅.
- Millions, a digit between 1,000,000 and 999,999,999, as in directing to a portion of money:
His future was in the millions of dollars.
- The amount of a thousand units of money, as dollars, pounds, or euros:
The three Dutch paintings fetched a million.
What is Meant by Billion?
The number is equivalent to the product of a thousand and a million: 1,000,000,000 or 10⁹.
A billion is defined as a 10-digit number it is counted after 100 million and carries forward the chain toward trillions. It is represented as 109 which is the smallest 10-digit number in math.
Main Difference Between Million and Billion
Million is used to indicate a number that can be conveyed as 106 or 1,000,000, whereas billion is defined as 10⁹ or 1,000,000,000.
Numbers could be nice to deal with; but when it comes to large numbers, we require some manageable and easy names to direct them. Billion and million are such words that build a portrait of some big numbers. Yes, it is totally right that both represent large numbers.
Million is used to denote a number that can be described as 106 or 1,000,000, but on the other hand, a billion is expressed as 10⁹ or 1,000,000,000.
Million is a natural digit that is between 999,999 and 1,000,001. Billion falls between 999,999,999 and 1,000,000,000.
The word ‘million’ is derived from the Latin word for 1000, which was known as “mille” and hence, 1,000,000 commenced being referred to as million, significance a large thousand.
Billion is derived from the French word bi- (“two”) + -illion, representing a thousand million.
It is comfortable to refer to these large numbers with millions and billions rather than putting a sculpture with 6 or 9 zeroes.
Another word that can be characterized in the context of millions and billions is trillions denoting 10^12 or 1,000,000,000,000, meaning thousand billion.
A person is known to be a millionaire if the assets admitted by him are identical or more than a million. Likewise, a billionaire is a person with assets equal to or more than a billion.
Distinguishing the Difference Between Million and Billion
| Features | Million | Billion |
| Number Of zeroes | Million has 6 zeroes with a one. | Billion has 9 zeroes. |
| Representation | It is represented as 10⁶ or 1,000,000. | It is represented as 10⁹ or 1,000,000,000. |
| Quantity | A million is 1000 times smaller than a billion. | Similarly, a billion is much greater or larger than a million. |
| Equivalent | A million is equivalent to 1000 thousand. | A billion equals 1000 million. |
History of Million and Billion
The word million is an English word commonly used in English-speaking countries. It is called the short scale. Countries of Europe use a long scale which means a billion is composed of millions.
The word “ bi” means double or two. It was early devised by Jehan Adam in 1475 and later revised in billion in 1484 at the time of Nicolas Chequet.
The word million is derived from the Italian word “milione,” and Latin “mille.”
How Many Million in a Billion?
Calculating what amounts are million and billion is a bit difficult because both the United Kingdom and the United States have different meanings for these two calculations.
In the old UK, the value of a billion was a “million million”, which is (1,000,000,000,000) whereas in the US the value of a billion is a thousand million (1,000,000,000).
Progressively, most of the countries follow the US means of billion which is 1 with 9 zeros. Even since 1974 the UK government also used the same meaning of billion as the US does.
Simply, we can calculate million and billion with the help of this conversion table.
| Value in Billion | Value in Million |
| 1 | 1000 |
| 2 | 2000 |
| 3 | 3000 |
| 4 | 4000 |
| 5 | 5000 |
| 6 | 6000 |
| 7 | 7000 |
| 8 | 8000 |
| 9 | 9000 |
| 10 | 10000 |
Way to Convert a Value from Million to Billion
Mathematically, 1 million is equal to 0.001 billion. So if you want to convert a million into a billion, multiply the number by 0.001.
| Value of million | Value of billion |
| 1 | 0.001 |
| 2 | 0.002 |
| 3 | 0.003 |
| 4 | 0.004 |
| 5 | 0.005 |
| 6 | 0.006 |
| 7 | 0.007 |
| 8 | 0.008 |
| 9 | 0.009 |
| 10 | 0.01 |
| 100 | 0.1 |
| 1000 | 1 |
How Can You Show the Difference Between Million and Billion?
A comfortable way to approximate a million to a billion would be corresponding one dollar to a thousand dollars. A billion has one thousand million in it.
If you retain one dollar you can purchase a single candy bar. If you have a thousand dollars you can pay for thousand candy bars.
If you have a million dollars you can buy one “million dollar villa.” You would hold a single house. If you have a billion dollars you can pay for one thousand “million dollar mansions”. You would possess an entire city of million-dollar villas.
Comparing 1 Million Dollars And 1 Billion Dollars
Comparing 1 billion and 1 million appears like the latter is a bunch and the former is a little more. This makes us categorize almost everyone who’s wealthy into the same type of “filthy rich”. But, most people don’t know just how much less than 1 million approximated to 1 billion really is.
Millionaires are prosperous, and billionaires are disturbingly more prosperous than the rest. The difference between a million and a billion is 999 million. 1 Billion dollars is 1000 times greater than a million dollars.
Ponder about it! It’s a balance of 1:1000. If that doesn’t help you see a huge difference, here are some more discrepancies.
1 billion dollars is a 10-figure number, on the other hand, 1 million is 7 figures.
If somebody made one million dollars a year, they would develop nearly $480.77 per hour and $3,846.15 per day. While making a billion dollars per year would imply approximately $480,769 each hour and $3,846,153.85 each day.
Some Explanations
This justification will help you come to terms with these enormous numbers, in a layout, I could figure out. It tells:
- 1 million seconds is similar to 11 ½ days.
- 1 billion seconds is similar to 31 ¾ years.
So the discrepancy between a million and a billion is the disparity between 11 ½ days and 31 ¾ years (11.5 days vs. 11,315 days).
Billions And Millions Used in English Sentences
Billion:
- The country’s exchange abundance rose to 16.5 billion dollars.
- India has inhabitants of more than 1 billion.
- The Treasury imported ￡40 billion, just to stay afloat.
- The importance of other stakes snout plunged by ￡2.6 billion.
- There are 1.2 billion people in China directly.
Million:
- The academy will subsidize 5 million in the scheme.
- Total beatings were assessed at over three million pounds.
- I have told you this thing over a million times.
- His private property is calculated at roughly $100 million.
- The cottage is certified for two million pounds.
How Do You Tell the Difference Between a Million And a Billion?
One billion is equal to one thousand times one million. On the other hand, one million equals one thousand times one thousand. Hence, a billion has nine zeros while a million has six zeros.
How Much is 1 Billion in Lakhs?
10,000 lakhs are equal to one billion.
A natural number that equals one billion is 1,000,000,000. 1 billion is preceded by the number 999,999,999 and is followed by the number 1,000,000,001.
Conclusion
- A million is 1,000 times more than a billion.
- The size of both the amounts has a large difference.
- In financial terms, a million is such a small amount when compared to a billion.
- According to research, the US median salary is $54,132 a year.
- At that estimate, about 18.5 years are needed to earn $1 million.
- Although, about 18,473 years would take to make $1 billion on that emolument.
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