Continue with your mobile number
The term fiat money or fiat currency is generally associated with a classification of money that has been authorized for use by a country's government. • Statement 1 is Incorrect: Bitcoin is a cryptocurrency. Cryptocurrencies are not legal tender, they have not yet been recognized as a valid form of currency by the Government of India. • Statements 2 and 3 are also Incorrect: Although cheques and demand drafts are often used in banking transactions, they do not fall in the category of fiat money because they can be rejected as the mode of transaction. • Statements 4 and 5 are Correct: Coins and notes are fiat money because the value of the currency notes and coins is derived from the guarantee provided by the Central Government on these items. Every currency note bears on its face a promise from the RBI that if someone produces the note to RBI or any other commercial bank, RBI will be responsible for giving the person purchasing power/value equal to the value printed on the note.
If a + (1/a) = 2, then find the value of (a5 + a3 + 6)/(7a – 5).
A number is increased by 20%, and the resulting number is decreased by 20%. If the initial number is ₹x, the final number is ₹2880. What is the valu...
If a = 901, b= 903, and c= 906, then find the value of a³ + b³ +c³ –3abc?
If (x24 + 1)/x12 = 7, then the value of (x72 + 1)/x36 is
What is the average of the first 20 multiples of 12?
Present age of Vikrant is 20% less than the present age of Priya. Age of Vikrant 5 years ago was 50% the present age of Priya. Find the present average ...
In a triangle ABC, a point D lies on AB and points E and F lie on BC such that DF is parallel to AC and DE is parallel to AF. If BE = 4 cm. EF = 6cm. th...
If x, y and z are real numbers such that (x-5)2+(y-8)2+(z-12)2= 0 then (x+y+z) is equal to
If = 4 then