Question

The origin of the term 'rupee' is the Sanskrit word 'rupya'. 'Rupya' means ______ coin.
A) Copper
B) Money
C) Gold
D) Silver

Answer 1

Hint: Sanskrit is a South Asian classical language from the Indo-Aryan branch of the Indo-European languages. It is the sacred language of Hinduism, as well as the language of classical Hindu philosophy and Buddhist and Jain historical texts.

Complete answer:
The rupee is the name given to the currencies of India, Indonesia, the Maldives, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, as well as former currencies of Afghanistan, all Arab Gulf states (as the Gulf rupee), Burma, British East Africa, German East Africa, the Trucial States, and Tibet. The rupees of India and Pakistan (Rs) are divided into 100 paise (singular paisa) or pice. The rupees of Mauritius, Seychelles, and Sri Lanka are divided into 100 cents. One hundred paisa or four Sukaas make up the Nepalese rupee.

The term 'rupee' is derived from the Sanskrit word rupyakam, which literally means "silver coin." Its origins can be traced back to the rupiya, which was issued by Sher Shah Suri between 1540 to 1545. The Reserve Bank of India issues currency today in accordance with the RBI Act of 1934. "Rs" is the most widely used symbol for the rupee. On July 15, 2010, India changed the symbol for the Indian rupee. The rupee is known as rupaye, rupaya, or one of many other words derived from the Sanskrit rupya, which means silver, in most parts of India.

Hence, the answer is Option ‘D’ i.e, Silver.

Note: Valuing the rupee based on its silver content had devastating consequences when the world's most dominant economies were on the gold standard in the 19th century. The discovery of large amounts of silver in the United States and various European colonies caused silver's value to fall compared to gold.