Alternative way of doing if else

javascript function

function(format,val){
      if (val >= 50000 && val<=100000)
                  return "50K"    
                else if (val > 100000 && val<=150000)
                  return "100K";
                else if (val > 150000 && val<=200000)
                   return "150K";
                else if (val > 200000 && val<=250000)
                   return "200K";                  
                else if (val > 250000 && val<=500000)
              return "250K"    
            else if (val > 500000 && val<=750000)
              return "500K";
            else if (val > 750000 && val<=1000000)
               return "750K";
            else if (val > 100000 && val<=1250000)
               return "1000K";   
            else if (val > 1250000 && val<=1500000)
              return "1250K";
            else if (val >= 1500000)
               return "1500K";

            else
              return val;
          }

Is there any other way we can implement this in less line of code in my JS function?