Keras Fit Generator Function I want to know if my thinking is correct?

Total Images = 120,000

So in the Keras Fit Generator function,
I made the batch_size = 24 and steps per epoch = 500 ,which is 12000 and only one-tenth of the total dataset.

Therefore I should make the "epochs = 100" if I actually want the real epoch to be 10.

i.e. It will actually take 10 epochs to go through the entire 120,000 images once.
Your assumption is in part correct, as your model will see 120000 images (i.e. the size of the whole dataset) in 10 epochs.

However, because keras' default generators shuffle the dataset at the end of each epoch, it is very unlikely that the model will see each image once after 10 epochs.

My suggestion would be to set steps_per_epoch=5000.