Explain the concept of Rupees and paise.
The rupee is the currency of India. The term "rupee" is used for other nations' currency around the Indian subcontinent and around Asia. However, when looking at the Rupee and Paise concepts, there is an immediately link between the national currency of India. The full Rupee is comprised of 100 Paise, which means that the latter is the smaller denomination of the former. As of 2010 in India, the "minimum denomination coin acceptable for transaction will be 50 paise from that date." This means that 2 50 paise coins make up 1 Rupee. The withdrawal of lower denominations confirm that the paise makes up the Rupee. For the most part in India, the Rupee coin and note is the basic element of Indian commercial activity.
In terms of explaining the concept, consider that any currency requires a basic building block. For example in the United States, 1 dollar is comprised of 100 cents. The rupee is analogous to the American dollar and the cents in American currency is similar to the Indian paisa (plural, "paise.") In England, the British pound is formed from 100 pence, and this is reflective of the same concept within the Indian Rupee and paise. The concept of Rupee and paise connects to the basic block of currency formation and trading in the Indian economic setting.