Money

Coins and Notes

• In simple words, Money is a medium of exchange.
• It is used to pay for commodities and services.
• We use coins and notes as money in India.

Coins and Notes

• The currency of a nation refers to the type of money that is frequently in use there.
• The Indian currency is called INR (Indian Rupee).
• The currency of India is represented by “Rupee” and “Paisa”.
• The symbol we use for “Rupee” is ₹. We also write rupee as Rs and “Paisa” as p.
• In India, the currency is used in the form of notes and coins.

• On the reverse side of each coin, there is the emblem of the Ashoka pillar.

• In each note, there is the emblem of the Ashoka pillar on the right side and the face of Mahatma Gandhi on the left side.

Reading and Writing Money

Let us discuss with an example.

Example: Look at the picture. Read and write the price of the chocolate bar in words.

Answer:

The price of the chocolate bar is written as Rs 85.55. We will read it as Rs 85 and 55p.

In words, it will be written as Eighty-five rupees and fifty-five paise.

Real-Life Problem

Let us explain with an example.

Example: This wallet belongs to Rama’s father.

Find how much money does he have in his wallet? How many notes does he have in his wallet?

Answer:

There are 1 Rs 50 note, 1 Rs 200 note, 1 Rs 500 note, note.

So, in total he has

Rs 500 + Rs 200 + Rs 50 = Rs 2000 + Rs 750 = Rs 2750

There are total 3 notes in his wallet.