Question

Which one of the following is not a modern form of money ?

a) Demand deposit
b) Paper currency
c) Coins
d) precious metals
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Answer 1

1)demand deposite are done in bank where people can withdraw money when they need.

2)paper notes and coin are authorised by government of india.

so, the precious metals is not the modern form of money. (options D is the correct answer .)

Answer 2

Precious Metals is not a modern form of money.

• Demand Deposit is the money in the bank accounts from where money can be withdrawn at any time without any notice.
• Paper currency includes all the paper notes that we use regularly. The paper currency is regulated by the central bank of the country. The Reserve Bank of India regulates the paper currency of India.
• Coins are small, flat round pieces of metal that are primarily used as a currency or medium of exchange in a country.

The answer is(d) precious metals.