Currency

A system of money in common use especially in a nation is called currency. This note has information about the currency.

Summary

A system of money in common use especially in a nation is called currency. This note has information about the currency.

Things to Remember

  • A system of money in common use especially in a nation is called currency.
  • People used to exchange the goods and services without using medium of exchange, such as money. This system is known as batar system.
  • The currency of America is called Dollar.
  • The batar system became uneffective with the increment of the economic activities. 
  • Foreign currency can also be earned by working in foreign lands. 
  • The foreign currency is essential to import goods from foreign countries. 

MCQs

No MCQs found.

Subjective Questions

Q1:

Find the third  proportional to 2 and 22.


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>Let the required third proportion be x.</p> <p>2 : 22 = 22 : x</p> <p>or, \(\frac{2}{22}\) = \(\frac{22}{x}\)</p> <p>or, 2x = 22\(\times\) 22</p> <p>or, x = \(\frac{22 \times 22}{2}\)</p> <p>\(\therefore\) x = 242</p>

Q2:

Find the mean proportion between 2 and 32.


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>Let the required mean proportion be x. Then,</p> <p>2 : x = x : 32</p> <p>or, \(\frac{2}{x}\) = \(\frac{x}{32}\)</p> <p>or, x<sup>2</sup> = 64</p> <p>or, x = \(\sqrt{64}\)</p> <p>\(\therefore\) x = 8</p>

Q3:

 Find the fourth proportional to 5, 7 and 8.


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>Let x be the proportional to 5, 7 and 8</p> <p>Then, \(\frac{5}{7}\) = \(\frac{8}{x}\)</p> <p>or, 5x =7 \(\times\) 8</p> <p>or, x = \(\frac{56}{5}\)</p> <p>\(\therefore\) x = 11.2</p>

Q4:

 Find the value of x in 16  : 8 = x : 5


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>16 : 8 = x : 5</p> <p>or, \(\frac{16}{8}\) = \(\frac{x}{5}\)</p> <p>or, 8x =16 \(\times\) 5</p> <p>or, x = \(\frac{80}{8}\)</p> <p>\(\therefore\) x = 10</p>

Q5:

 If 7 pencils cost Rs 150, what is the cost of 12 pencils?


Type: Long Difficulty: Easy

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Answer: <p>Solution:</p> <p>Let the Cost of 12 pencils be Rs x.</p> <p>Since the cost are proportional to the number of pencils, We have</p> <p>\(\frac{7}{150}\) = \(\frac{12}{x}\)</p> <p>Or, 7x = 12 \(\times\)150</p> <p>Or, x = \(\frac{12\times150}{7}\)</p> <p>= 257.14</p> <p>Hence, the cost of 12 pencils = Rs 257.14</p>

Q6:

 If 15 pens cost Rs 105, how much will 20 pens cost?


Type: Long Difficulty: Easy

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Answer: <p>Solution:</p> <p>Let the cost of 20 pens be x.</p> <p>Since the costs are proportional to the number of pens, we have</p> <p>\(\frac{15}{105}\) = \(\frac{20}{x}\)</p> <p>or, 15 x = 20 \(\times\) 105</p> <p>or, x = \(\frac{20 \times 105}{15}\)</p> <p>or, x = \(\frac{2100}{15}\)</p> <p>\(\therefore\) x = 140</p> <p>Hence, the cost of 20 pens is Rs 140.</p> <p></p>

Q7:

 Given numbers  7, 9, z, 18. Find z.


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>The ratio of first two numbers = \(\frac{7}{9}\)</p> <p>The ratio of second two numbers = \(\frac{z}{18}\)</p> <p>Now,</p> <p>\(\frac{7}{9}\) = \(\frac{z}{18}\)</p> <p>or, z = \(\frac{7\times18}{9}\)</p> <p>or, z = 7\(\times\)2</p> <p>\(\therefore\) z = 14</p> <p></p>

Q8:

 Find the value of x.

x:5 = 10:25


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Given, x:5 = 10:25</p> <p>or, \(\frac{x}{5}\) = \(\frac{10}{25}\)</p> <p>or, 25x = 5 \(\times\) 10</p> <p>or, x = \(\frac{50}{25}\)</p> <p>\(\therefore\) x = 2</p> <p></p>

Q9:

 Find the value of x.

3:7 = 21:x


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Given, 3:7 = 21:x</p> <p>or, \(\frac{3}{7}\) = \(\frac{21}{x}\)</p> <p>or, x = \(\frac{21\times7}{3}\)</p> <p>\(\therefore\) x = 49</p>

Q10:

Given numbers 3, a, 9, 21. Find a.


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>The first two number of ratio = \(\frac{3}{a}\)</p> <p>Second two number of ratio = \(\frac{9}{21}\)</p> <p>given numbers are in proportion, so</p> <p>\(\frac{3}{a}\) = \(\frac{9}{21}\)</p> <p>or, a = \(\frac {3\times21}{9}\)</p> <p>\(\therefore\) a = 7</p>

Q11:

Find the value of x.

25 : 15 = x : 3


Type: Short Difficulty: Easy

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Answer: <p>Solution:</p> <p>Given,</p> <p>25 : 15 = x : 3</p> <p>or, \(\frac{25}{15}\) = \(\frac{x}{3}\)</p> <p>or, x = \(\frac{25\times3}{15}\)</p> <p>or, x = \(\frac{75}{15}\)</p> <p>\(\therefore\) x = 5</p> <p></p>

Q12:

Check, whether the following numbers form a proportion or not.

7, 8, 14, 20.


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>The ratio of first and second numbers = \(\frac{7}{8}\) = 7:8</p> <p>The ratio of third and fourth numbers = \(\frac{14}{20}\) = 7:10</p> <p>Hence, the first ratio 7:8 and the second ratio 14:20 = 7:10 are not not in the proportional form.</p>

Q13:

Find the cost of 23 meters of cloth, if 5 meters of cloth costs Rs 625.


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>solution:</p> <p>Let, the cost of 23 meters of cloth be x.</p> <p>Since, the costs are proportional to the meters of cloth.</p> <p>\(\frac{5}{625}\) = \(\frac{23}{x}\)</p> <p>or, 5\(\times\)x = 23\(\times\)625</p> <p>or, x = \(\frac{23\times625}{5}\)</p> <p>\(\therefore\) x = 2875</p> <p>Hence, the cost of 23 meters of cloth is Rs 2875.</p>

Q14:

 The ratio of the students using pens and pencils in Dharan Higher Secondary School is 10:11. If 110 students are using pencils, find the number of students using pens?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Ratio of students usingpens and pencils = 10:11</p> <p>Number of students using pencils = 110</p> <p>Number of students using pens =?</p> <p>Let, the number of students using pen be x.</p> <p>According to the question,</p> <p>110:x = 10:11</p> <p>or, \(\frac{110}{x}\) = \(\frac{10}{11}\)</p> <p>or, x = \(\frac{110\times11}{10}\)</p> <p>or, x = 11\(\times\)11</p> <p>\(\therefore\) x = 121</p> <p>Hence, 121 number of students are using pens.</p>

Q15:

The  ratio of milk and sugar in  a candy is 5:3. If there is 750 gm milk, how much is the sugar?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Let, the quantity of sugar be x.</p> <p>Quantity of milk= 750 gm</p> <p>The ratio of milk and sugar = 5:3</p> <p>\(\frac{750}{x}\) = \(\frac{5}{3}\)</p> <p>or, x = \(\frac{750\times3}{5}\)</p> <p>\(\therefore\) x = 450</p> <p>Hence, There is 450gm sugar in the candy.</p>

Q16:

The Ratio of the Students passed  in first division, Second division and Third division is 2:4:5, among 153 students. If 21 students failed the exam, how many passed in First division, Second division and Third division


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Number of Students participated in the exam = 153</p> <p>Number of Failed Students = 21</p> <p>Total passed students = 153 - 21 = 132</p> <p>The Ratio of 132 students passed in first, second and third division = 2:4:5</p> <p>Now, Number of students passed in First division = 2x</p> <p>Number of students passed in Second division = 4x</p> <p>Number of students passed in Third division = 5x</p> <p>2x+ 4x+ 5x = 132</p> <p>Or, 11x = 132</p> <p>Or, x= \(\frac{132}{11}\) = 12</p> <p>Hence,</p> <p>Number of students passed in First division = 2x = 2\(\times\)12 = 24</p> <p>Number of students passed in Second division = 4x = 4\(\times\)12 = 48.</p> <p>Number of students passed in Third division = 5x = 5\(\times\)12 = 60</p>

Q17:

If the gravitational ratio of  Earth and Moon is 1:6. If the weight of an object in Earth is 90N, find it's weight in the Moon ?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>The Gravitational Ratio of Earth and Moon = 1:6</p> <p>Weight of an object in the Earth = 90N</p> <p>Weight of that object in the Moon =?</p> <p>Let, the weight in Moon be xN.</p> <p>Now,</p> <p>\(\frac{xN}{90N}\) = \(\frac{1}{6}\)</p> <p>or, x = 90\(\times\)\(\frac{1}{6}\)</p> <p>\(\therefore\) x = 15N</p> <p>Hence, The weight in Moon is 15N.</p>

Q18:

How much should be added to both the numbers, to make the ratio 3:5 into 5:6 ?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Let, x be the number to make the ratio 3:5 into 5:6.</p> <p>Now,</p> <p>\(\frac{3 + x}{5 + x}\) = \(\frac{5}{6}\)</p> <p>or, 6( 3 + x) = 5( 5 +x)</p> <p>or, 18 + 6x = 25 + 5x</p> <p>or, 6x -5x = 25 - 18</p> <p>\(\therefore\) x = 7</p> <p>Hence, 7 should be added to both the numbers to make the Ratio3:5 into 5:6.</p>

Q19:

In the marriage ceremony, a cook can cook 20 kg  meat in  30 minutes. How much time is required for them to cook 15 kg meat?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>Solution:</p> <p>Let, the time required to cook 15 kg meat be x minutes.</p> <p>Now,</p> <p>\(\frac{30}{x }\) = \(\frac{20}{15}\)</p> <p>or, x = \(\frac{30\times15}{20}\)</p> <p>or, x = \(\frac{450}{20}\)</p> <p>\(\therefore\) x = 22.5 minutes</p> <p>Hence, 22 minutes 5 sec is required to cook 15 kg meat.</p>

Q20:

Simran scored in the ratio of 10:12 in  Mathematics and Science. If she scored 80 in Science, find the marks she got in Mathematics?


Type: Long Difficulty: Easy

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Answer: <p>Solution:</p> <p>Let, x be the marks she got in Mathematics.</p> <p>The Ratio of Marks obtained in Mathematics and Science = \(\frac{10}{12}\)</p> <p>Marks in Science = 80</p> <p>Now,</p> <p>\(\frac{x}{80}\) = \(\frac{10}{12}\)</p> <p>or, x = \(\frac{10\times80}{12}\)</p> <p>or, x = \(\frac{10\times20}{3}\)</p> <p>or, x = \(\frac{200}{3}\)</p> <p>\(\therefore\) x = 66\(\frac{2}{3}\)</p> <p>She got 66\(\frac{2}{3}\) in Mathematics.</p>

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Currency

Currency

currency

In the past, people used to produce the essential things in their own home. They used to exchange the goods and other materials with their neighbours which are essential to them. In this way, people used to exchange the goods and services without using medium of exchange, such as money. This system is known as batar system. The batar system became ineffective with the increment of the economic activities. Then, it was started to search the universally accepted material instead of exchanging system. Animals and their skin, the carapace of the tortoise, hole in the hard material, etc. were used instead of the exchange of goods. The metals such as gold and silver were used as the means of exchange with the development. Notes have become the most popular means of exchange in present days. The shape and structure of currency had changed with the development of human civilization. Nepal Rastra Bank, in our country, issues paper notes & coins and circulates throughout the country. Few countries of Europe has brought the trend of a common currency which is called Euro. The currency of America is called Dollar.

A country cannot issue more and more notes to be rich. It should take the permission of International Currency Fund of UNO to issue the note. The fund gives the permission to issue note according to the capacity to utilize the goods and services by the citizen. The value of the currency should be according to the valuable metals, such as gold. Then only, the bank can issue notes as per the requirement.
The foreign currency is essential to import goods from foreign countries. We should export goods in order to earn currency of foreign lands. Foreign currency can also be earned by working in foreign lands. Foreign currency can also be earned if the foreigners spent their money while their visit to Nepal. It can also be earned through donations and loans from foreign countries. The most reliable means to earn foreign currency is trade and tourism. But nowadays many Nepalese are going foreign land such as Saudi Arab, Malaysia, Qatar, South Korea, japan, etc. for foreign employment. They earn foreign currency there and send it to their family and relatives in Nepal through remittance.

Lesson

Our Economic Activities

Subject

Social Studies and Population Education

Grade

Grade 8

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