Money is the medium of exchange for people to facilitate trade for goods and services. Money is in two forms. They are coins and currency. We can write the amount of money in two forms. i.e. Word form and figures. It also includes the Denomination of coins, Denomination of Currency, examples of how to write the amount of money in word form, and figures.
Coins and Currency Notes
We will discuss here coins and currency notes. We are already aware of the coins and notes in our day-to-day life. Coins of 1 paise, 2 paise, 5 paise,10 paise, 20 paise are not available. 25 paise, 50 paise are less in circulation. Re 1notes and Rs 5 notes are also less in circulation.
The rupee is a larger unit of money than paise. For writing paise, we use ‘p’. The abbreviation of rupees is Rs.
Denomination of Coins
Decomposing of the large coins to the smaller coins is called the denomination of coins. For example, the ten-rupee coin can be decomposed into 10 one rupee coins or 2 five rupees coins,s or 5 two rupees coins. We know that 2 one rupee coins are equal to 2 rupee coins.
|One Rupee Coin||1|
|Two Rupees Coin||2|
|Five Rupees Coin||5|
|Ten Rupees Coin||10|
We use dot (.) to separate rupees and paise. The figure on the left of the dot represents rupees. The figure on the right of the dot represents paise. The number of paise is written as a 2-digit number.
(i) If we have to represent the amount of money consists of the only paise place zero before the dot (.) to indicate that there are no rupees. For example, 35 paise is written in figures as Re 0.35 or 35 p.
(ii) If the paise has one digit, we put zero before it to make a two-digit number. For example, 5 paise in the figure is written as Re 0.05 or 5 p.
We know that:
|100 paise = Re 1
Two 50 paise = Re 1
Four 25 paise = Re 1
Five 20 paise = Re 1
Ten 10 paise = Re 1
The currency notes available now are 5 rupee notes, 10 rupee notes,20 rupee notes, 50 rupee notes, 100 rupee notes, 500 rupee notes,2000 rupeenotes.5 rupee,10 rupee notes, and coins are the same.
Denomination of Currency
Splitting up a given currency into various small numbers of currencies is called decomposition of currency. The Denomination of currency is 10,20,50,100,500.Decomposition of currency is very important to manage money effectively. In day-to-day life, we decompose money for meeting our needs. For example,100 rupees may contain 2 fifty rupee notes, or 10 ten-rupee notes, or 5 twenty rupee notes.
|Ten Rupee Note||10|
|Twenty Rupee Note||20|
|Fifty Rupees Note||50|
|Hundred Rupees Note||100|
|Five Hundred Rupees Note||500|