All About Money

Summary

This chapter discusses money, its importance, and its origin. It starts by discussing India and the coins and notes available there. 

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. They also tell us about all the notes we have, like the 5 rupee note, the ten rupee note, the twenty rupee note, the fifty rupee note, the hundred rupee note, the five hundred rupee note, and the two thousand rupee note. These are all the coins and notes that are available in India. 

Understanding the currency of a country is as important as understanding its culture. Just as India has its rupees, the U.S has its dollars, and the U.K has its pounds. Each currency tells a unique story about its country. 

Now that you know where the concept of money came from earlier, people never gave each other money. They used to give things like grains, produce, and other stuff in exchange for something. This is known as barter.

The first time paper was not used in China was about 1000 years ago. As the paper has no value, money 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 themselves and their loved ones.