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Question (21)

QN0024362

Which of the following is an example of a denomination of Indian paper currency?

(A) ₹75
(B) ₹250
(C) ₹200
(D) ₹750

Correct Answer: C

Explanation:

₹200 is an official denomination of Indian currency.

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Question (22)

QN0024363

Which of the following is generally used for higher denominations?

(A) Cowrie shells
(B) Coins
(C) Paper currency
(D) Barter

Correct Answer: C

Explanation:

Paper currency is used for higher denominations.

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Question (23)

QN0024364

A customer scans a QR code at a fruit seller's cart and pays using a mobile phone. Which form of money is being used?

(A) Commodity money
(B) Barter
(C) Digital money
(D) Metallic money

Correct Answer: C

Explanation:

QR code payments are made using digital money.

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Question (24)

QN0024365

A payment made directly from one bank account to another using a mobile application is an example of:

(A) Barter
(B) Coinage
(C) UPI transaction
(D) Commodity exchange

Correct Answer: C

Explanation:

UPI transfers money directly between bank accounts.

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Question (25)

QN0024366

Which of the following is NOT a digital payment method mentioned in the chapter?

(A) Debit card
(B) Credit card
(C) Net banking
(D) Demand draft

Correct Answer: D

Explanation:

Demand draft is not listed among the digital payment methods discussed.

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Question (26)

QN0024367

A shopkeeper receives ₹8,500 digitally. He spends ₹3,250 on fresh stock and ₹1,750 on transport. How much money remains in his account?

(A) ₹3,250
(B) ₹3,500
(C) ₹3,750
(D) ₹4,000

Correct Answer: B

Explanation:

Total expenditure = ₹5,000. Remaining = ₹3,500.

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Question (27)

QN0024368

A QR code mainly contains information about the:

(A) Buyer's school
(B) Seller's bank account
(C) Product's manufacturing date
(D) Colour of the currency note

Correct Answer: B

Explanation:

QR codes contain information required to transfer money to the receiver's bank account.

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Question (28)

QN0024369

Arrange the following in the correct chronological order: 1. Paper currency 2. Digital money 3. Barter 4. Metal coinage

(A) 3, 4, 1, 2
(B) 4, 3, 1, 2
(C) 3, 1, 4, 2
(D) 4, 1, 3, 2

Correct Answer: A

Explanation:

Money evolved from barter to metal coins, then paper currency, and finally digital money.

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Question (29)

QN0024370

A customer buys goods worth ₹1,860 using UPI from a bank balance of ₹5,000. What balance remains after the transaction?

(A) ₹3,040
(B) ₹3,140
(C) ₹3,240
(D) ₹3,340

Correct Answer: B

Explanation:

₹5,000 − ₹1,860 = ₹3,140.

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Question (30)

QN0024371

Which statement best explains why digital money has become popular?

(A) It can only be used in banks.
(B) It allows quick transfer of money without using physical cash.
(C) It replaces all forms of currency permanently.
(D) It can only be used for international trade.

Correct Answer: B

Explanation:

Digital money enables fast and convenient cashless transactions.

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Question (21)

Which of the following is an example of a denomination of Indian paper currency?

Explanation:

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Question (22)

Which of the following is generally used for higher denominations?

Explanation:

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Question (23)

A customer scans a QR code at a fruit seller's cart and pays using a mobile phone. Which form of money is being used?

Explanation:

Link:

Question (24)

A payment made directly from one bank account to another using a mobile application is an example of:

Explanation:

Link:

Question (25)

Which of the following is NOT a digital payment method mentioned in the chapter?

Explanation:

Link:

Question (26)

A shopkeeper receives ₹8,500 digitally. He spends ₹3,250 on fresh stock and ₹1,750 on transport. How much money remains in his account?

Explanation:

Link:

Question (27)

A QR code mainly contains information about the:

Explanation:

Link:

Question (28)

Arrange the following in the correct chronological order: 1. Paper currency 2. Digital money 3. Barter 4. Metal coinage

Explanation:

Link:

Question (29)

A customer buys goods worth ₹1,860 using UPI from a bank balance of ₹5,000. What balance remains after the transaction?

Explanation:

Link:

Question (30)

Which statement best explains why digital money has become popular?

Explanation:

Link:

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