Lacs are converted to rupees by multiplying the amount of lacs by 100,000, because one lac is equal to 100,000 rupees. In India, Pakistan, Bangladesh, Nepal, Sri Lanka and other countries that use rupees, lacs are often used to count large amounts of currency.Continue Reading
Besides lacs, other units are used to express large amounts of rupees or other objects. A crore is 100 lacs or 10 million rupees. To designate larger amounts of money, usually only lacs and crores are used as units of measurement. For instance, 1 quadrillion rupees is 1 lac crore of rupees. However, in counting other items, there are more terms for larger amounts. For instance, 1 Arab is 100 crore, or 1 trillion. One kharab is 100 Arab, or 100 trillion.
The modern rupee is made up of 100 paisa. However, when it was first created during the Mughal Dynasty in India in the 16th century, it was divided into 16 annas. Depending on where it was made, the value of the rupee varied from region to region. It was not until 1835 that the rupee received a standardized value by law. When India became independent in 1947, coins of 2 anna, 4 anna and 8 anna continued to be used until the decimal system was adopted in 1961.Learn more about Currency & Conversions