octets to mbps on SNMP interface stat

I have a program that will give me an snmp interface stat "ifOutOctets" but I want that in a readable stat that will tell me how much outbound bandwidth is being used on that interface.

if I'm getting a value of 166066668 for the octets and I devide by 1000 and then 1000 again and then 60 will that give me the Mbps number I want? IE -

166066668/1000 = 166066
166066/1000 = 166
166 / 60 = 2.8 Mbps

or is there another way to get the mbps used on an interface when the figure I'm getting is displayed in Octets?
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sameer_dubeyConnect With a Mentor Commented:
Read this article. It will tell you how to calculate bandwidth: http://www.cisco.com/en/US/tech/tk648/tk362/technologies_tech_note09186a008009496e.shtml

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