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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.
From amongst the figures (A), (B), (C), (D) and (E), select the figure which satisfies the same conditions of placement of the dots as in figure (X)
This question is based on the following words.
LEG PAW CUR BID
If in each of the words, each letter is changed to the letter following it ...
In a certain code language, 'COURT' is coded as OCRTR and 'JUDGE' is coded as UJAEG. How will 'ORDER' be coded in the same language?
There is a group of donkeys & ostriches, where the number of legs are 8 more than twice the number of tails. Find the number of donkeys in the group.
Four letter-clusters have been given, out of which three are alike in some manner and one is different. Select the one that is different.
After interchanging the given two numbers, what will be the value of the given expression?
20 and 10
10 + 30 – 5 × 20 ÷ 2
