Coins and Notes
- We use money for buying things we need in our daily life.
- The word ‘Money’ is derived from the Latin word Moneta, which means coins.
- Different countries have their particular type or a particular system of money which is called ‘Currency’.
- ‘Indian Rupees’ is the official currency of India.
- In India, money is called rupees. Sometimes, rupees are written as ‘Rs’. But the symbol of the rupees is ‘₹’.
- Paisa is the part of the rupee which is written as ‘p’.
- On each coin and note, the value of money is written on each coin and note.
Coins in use:
Notes in use:
- 1-rupee is the lowest value coin used in India.
- 1-rupee is divided into paise.
- 100 paise = 1-rupee (₹1), but the coin of paise is not currently in use.
- A coin has 2 sides – Head and tail.
Head – The side of the coin which has a symbol of the country/ the head of king or queen or any prominent person of the country is known as the head of the coin.
In India, the head side of the coin mostly has a pillar of Ashoka - looking three lions on the top and at the bottom bull on the left side of the Ashoka chakra and a horse on the right side of the Ashok chakra.
Tail – The opposite side of the head is known as the tail of the coin.
In India, the tail side of the coin mostly has the denomination of the coin on it.
- The shapes and sizes of coins and notes are changed from time to time.
- There are different monuments printed in Indian currency notes.
Monuments printed on the reverse of the notes-
- Sun temple – Printed on the reverse side of the Rs. 10 banknotes.
- Ellora caves – Printed on the reverse side of the Rs. 20 banknotes.
- Hampi – Printed on the reverse side of the Rs. 50 banknotes.
- Rani ki vav – Printed on the reverse side of the Rs. 100 banknotes.
- Sanchi stupa – Printed on the reverse side of the Rs. 200 banknotes.
- Red fort – Printed on the reverse side of the Rs. 500 banknotes.
There are some coins and notes that are not in use.
- 25 paise coin
- 50 paise coin
- 2 rupees note
- 1000 rupees note
Uses of Indian currency:
- The value of an object in terms of money is the price or cost of that object.
If we buy one pencil for ₹3, then the price or cost of that pencil is ₹3.
- The total value of money is called ‘Amount’.
If we have three coins of 1-rupee, it makes a total 3-rupees amount.
Different combinations make different amounts of money.