Assertion: The modern currency is without any use of its own.
Reason: Money in India is printed and circulated by RBI.
a)
Both A and R are true and R is the correct explanation of A .
b)
Both A and R are true but R is not the correct explanation of A.
c)
A is correct but R is wrong.
d)
A is wrong but R is correct
Correct answer is option 'B'. Can you explain this answer?

Question

Assertion: The modern currency is without any use of its own.
Reason: Money in India is printed and circulated by RBI.

a)
Both A and R are true and R is the correct explanation of A .
b)
Both A and R are true but R is not the correct explanation of A.
c)
A is correct but R is wrong.
d)
A is wrong but R is correct

Correct answer is option 'B'. Can you explain this answer?

Answer

The modern currency is without any use of its own because it is not made of precious metals such as gold or silver but included paper notes or coins. It is actually used as a medium of exchange in order to buy or sell something. so reason given is incorrect that Money in India is printed and circulated by RBI.

Answer

Here the first statement means that if we cannot exchange anything for money then it is of no use.

Example: when we feel hungry we need food in exchange of money,when we fal sick we need medicines not the money.
so the statement mean to say, untill and unless we cannot exchange anything with money it is of no use of its own.

And the second statement tell you the fact that Money in india is printed and circulated by RBI.

Therefore option B is the right answer.
Hope I could able to help you.

Answer

Explanation:

A is correct: Modern currency, such as coins and banknotes, does not have any intrinsic value of its own. It is not made of valuable materials like gold or silver. Instead, its value is derived from its use as a medium of exchange and its acceptance as a form of payment.

R is true: Money in India is printed and circulated by the Reserve Bank of India (RBI). The RBI is responsible for issuing currency notes and coins in the country. It also regulates the supply of money in the economy.

R is not the correct explanation of A: While it is true that the RBI prints and circulates currency in India, this fact alone does not explain why modern currency is without any intrinsic value. The value of modern currency is determined by the trust people have in it as a medium of exchange, not by the fact that it is printed by the RBI.

Therefore, option (b) is the correct answer as both A and R are true, but R is not the correct explanation of A.

Answer

Why is modern currency accepted as a medium of exchange without any use of its own?

https://edurev.in/question/403868/why-is-modern-currency-accepted-as-a-medium-of-exc

Answer

B is correct because rbi is a supreme of all bank

Answer

Answer

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