True or false about notes and coins

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   Every bank branch must exchange notes.

2. Statement is true

   No

   Statement

   A branch may refuse small coins.

3. Statement is true

   No

   Statement

   25 paise coins are still legal tender.

4. Statement is true

   No

   Statement

   Refund of a mutilated note is a legal right.

5. Statement is true

   No

   Statement

   Soiled notes may be reissued to the public.

6. Statement is true

   Yes

   Statement

   Exchange of mutilated notes is free of cost.

Instructions

Decide whether each statement is true or false.

Explanation