Case study based factual comprehension with graph interpretation for class 10, 11 & 12

 PRACTICE WORKSHEET FOR CASE STUDY BASED FACTUAL COMPREHENSION WITH GRAPH INTERPRETATION:


Read the following passage, study the graph and the MCQs given below:


Demonetisation indicates an economic policy

where a certain currency unit desist to be used

as a legal tender. It occurs whenever there is a

change in the national currency: The existing form

or forms of money is pulled from circulation and

retired, to be altered with new notes or coins.

Sometimes, a country completely replaces the old

currency with new currency.


On 8 November, 2016, the Indian government

decided to demonetize the 500 and 1000 rupee

notes, the two biggest denominations in its

currency system. These notes elucidate 86%

of the country's circulating cash. With no warning,

India's Prime Minister Narendra Modi revealed

to the citizen that these notes would be rendered

immediately ineffective with immediate effect.

People were given time till the end of the year to

deposit or exchange them for newly introduced

2000 rupee and 500 rupee notes.


3. The government's goal was to strive against India's

thriving underground economy on several fronts:

eliminate counterfeit currency, fight tax evasion

(only 1% of the population pays taxes), eradicate

black money accumulated from money laundering

and terrorist-financing activities, and to promote

a cashless economy. Individuals and entities with

huge sums of black money acquired from parallel

cash systems were forced to take their large

denomination notes to a bank, and account for

them satisfactorily and submit proof if tax paid. If

the owner could not provide proof of making any

tax payments on the cash, he possessed a penalty

of 200% on the tax due was imposed.


4. Demonetisation had a serious impact on the gold

market. The remarkable demand for the yellow

metal, made a stiff hike in the cost. However,

the Government made it obligatory that every

buyer had to submit his/her PAN card details for

purchases made. Erring jewellers were brought to

book.


5. Many Indians moved to another payment

methods. The biggest gainers were mobile wallet

companies that offered easy transactions through

a large network of partners. Alibaba-backed

Paytm saw a sevenfold increase in overall traffic.

Prepaid cash cards were another choice that the

customers found useful. Other alternatives were

mobile payment systems linked to e-commerce

businesses like Ola Money, FreeCharge, Flipkart

Wallet.




(Source: The true picture)


Choose the correct option to answer the questions based

on the above passage and graphics. Do any ten.


(a) Which of the following is one of the reasons for


demonetisation?


(i) change in the parliament


(ii) change in the government


2.

[26/08, 12:35 pm] Arif Sir: Factual Passage | 17


(iii) change in the national currency

(iv) change of the finance minister


(b) Which of the following is completely replaced when


demonetisation occurs?


(i) old financial rules


(ii) old finance minister


(iii) old tax rules


(iv) old currency


(c) What amount of cash circulation did the 500 and

1000 rupee note account to before demonetisation?


(i) 86%

(iii) 58%


(ii) 76%


(iv) 49%


(d) Choose the option that lists the correct answers for


the following:


1. An economic policy where a certain currency

unit ceases to be used as a legal tender. It occurs

whenever there is a change in the national

currency. Name the policy.


2. To eradicate counterfeit currency, fight tax

evasion (only 1% of the population pays taxes),

eliminate black money accumulated from

money laundering and terrorist-financing

activities, and to promote a cashless economy.


Whose goal was this?

(i) (1) is black marketing and (2) is the President's

goal


(ii) (1) is demonetization and (2) is the Government's

goal


(iii) (1) is money exchange (2) is the Finance

minister's goal

(iv) (1) is money laundering and (2) is the Chief


minister's goal

(e) Based on your understanding of the passage, choose


the of that lists the objectives of demonetisation.


1. In demonetisation, the existing form of money is

pulled from circulation to be replaced with new

notes.


2.


Demonetisation had a severe impact on the gold


market.


3. Demonetisation eliminates black marketing.


4. Demonetisation eradicates money laundering.


5. Demonetisation helps to retain a cashless econo


my.


6. Demonetisation helps in increasing the revenue


of a country.


(i) 1 and 5


(iii) 2 and 4


(ii) 5 and 6


(iv) 3 and 5


(f) Which of the following mobile payment systems


gained through demonetisation?

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