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Kbps and Mbps are units for speed of data transfer. So it is correct to use the formula
1 Mbps = 1000 Kbps
for conversion. Some may be confused Kbps and Mbps as units for storage and use 1024 instead which is WRONG.
1 Kbps = One kilobit per second (Unit for speed of data transfer)
1 KBps = One kilobyte (1024 or 2^10) bytes.
This seems to confused alot of people so to avoid some of this confusion, networkers / IT people typically measure data rates in bits per second (bps) rather than bytes per second (Bps) and use the terms kilobyte, megabyte, and gigabyte only when referring to disk space.
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