In India car prices are mostly above Rs 1,00,000. Rs 1,00,000 is also called as 1 Lac or Lakh in India.
Suppose a car is worth Rs 3,80,000. What will be the most suitable option, 3.8 Lacs or 3,80,000?
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In terms of readability, the longer version of the number is more readable and easier for people to compare.
In terms of suggesting value, setting something at 3.8 Lacs might make people think it's less than Rs 380,000.
I've not read any research behind it, but from experience it works with dates. People would rather say something is 2 weeks away than 14 days. There's more of a focus on the number rather than the unit.
Is the lac a legitimate unit, or is it common slang? In the UK, people know that 1K is 1,000; but prices for cars are always* listed as the expanded version. You'll see prices for £12,000 and not £12k. Oddly (as a side note) mileage is generally rounded to the nearest thousand, and listed in the short format, e.g. 44K
*from every car dealer, website and manufacturer I've ever looked at; and I car browse far more than I should.
For the prices in India using decimal format is more acceptable since people are more used to it. You should use units up to 2 decimal points, it is more readable as well
for example 3.80Lacs
Both of the formats have their significance. When and if comparing prices, you can use long format. Long format can also be used when adding up the price of accessories.
for example Ex-Showroom Price + Accessories = 3,80,000 + 3,500