Maharashtra State BoardSSC (English Medium) 5th Standard
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All About Money

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notes

All about money

Summary

This chapter tells us about money and how it is important and where it originated from they start off by telling us about India and the coins and the notes we have available here. 

So they tell us how in India we have various coins like the 50 paise coin the 1 rupee coin the 5 rupee coin and the ten-rupee coin and they also tell us about all the notes we have like the 5 rupees note the ten rupees note the twenty rupees note the fifty rupees note the hundred rupees note the five hundred rupees note and two thousand rupees note. These are all the coins and notes that are available in India. 

So now that we know the currency in India is rupees we should also know that every country had a different currency for example in the U.S they have $ dollars. and in the U.K they have £ pounds. 

Now that you know that where did the concept of money come from earlier people never use to give each other money they use to give things like grains plus produce and things like that and they receive something in exchange this is known as barter.

The first time a paper not was used in china was about 1000 years ago money as the paper has no value it is more of a promise to the other person saying that you have given them that much amount only the government is allowed to print money and we should also be very careful how we spend money people work extremely hard to earn it for them and their loved ones.

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