How Many Paise in 1 Rupee

Introduction

The Indian currency is known as the Rupee. Its international code is INR (Indian Rupee). It was earlier represented by the symbol ‘₹’. For example, hundred rupees is represented as ₹100. However, earlier the symbol ‘Rs’ was used. For example, hundred rupees was represented as Rs100. While the Rupee is the standard form of currency in India, it has a further division. Paisa is a further division of the currency Rupee. Let us learn a little more about the Paisa and Rupee.

Brief History of the Indian Rupee

The Indian Rupee is the currency of India. It is managed and distributed by the Reserve Bank of India. The word Rupee comes from the word ‘rupiyarupa’, which was mentioned by Chanakya, prime minister of Mauryan Emperor Chandragupt Maurya. He mentioned it in the book Arthashastra, a book on strategy, to explain the silver coins used as a currency. In ‘rupiyarupa’, rupiya means wrought silver, and rupa means form.

After we adopted the Rupee as our currency in 1917, Rs was used as a symbol. For example Rs100, Rs50, Rs20 etc. However, in 2010 Mr D Udaya Kumar designed the new symbol of the Indian Rupee (₹). According to his description, the symbol depicts the ‘ra’ consonant in the Hindi language र. It also symbolises the letter ‘R’ without the vertical left bar. The two horizontal bars loosey signify the Indian flag, along with an equal sign signifying the goal to reduce the economic gap in the country.

The Indian Money System

We now know that the Indian currency is the Rupee. Before learning how we name the different currencies, we need to understand the Indian Numeric System.

The Indian Numeric System is a different way of looking at the place value system than the International Numeric System.

The following table is a comparison of how the number 1000000000 will be written in the International Numeric System and the Indian Numeric System

As you can see that both systems are similar from ones till ten thousand. After that, the system changes. We get two different names in the Indian System; lakhs and crores.

How many Paise in 1 Rupee?

There is a subdivision in the Indian rupee system known as Paisa. The relationship between Rupee and Paisa is as follows

\begin{aligned}

& 1 \hspace{1mm}\text{Rupee} = 100 \hspace{1mm} \text {Paise}

\end{aligned}

We can use the above equation to solve the following examples

Example 1 - How many paise is in ₹200?

The above question can be answered as follows

\begin{aligned}

& 200 \hspace{1mm} \text {Rupee}\

&=200 \times 1 \hspace{1mm} \text{Rupee}\

&=200 \times 100 \hspace{1mm} \text{Paise}\

&=20000 \hspace{1mm} \text{Paise}

\end{algined}

We must remember the if a Rupee has a decimal point in it, the numbers on the right of the decimal point are in paisa. For example, in 2.5 Rupees, 2 is in Rupees, and 50 is in Paisa.

Example 2 - How many paise in 20.15 Rupees?

The above equation can be solved as follows

\begin{aligned}

& 20.15 \hspace{2mm} \text {Rupee}\

&=20 \hspace{1mm}\text{Rupees} + 15 \hspace{2mm} \text{Paise}\

&=20 \times 100\hspace{1mm}\text{Paise} + 15 \hspace{2mm} \text{Paise}\

&=200 + 15 \hspace{2mm} \text{Paise}\

&= 215 \hspace{2mm} \text{Paise}

\end{algined}

Example

How much paise is there in ₹960.24?

The above equation can be solved as follows.

\begin{aligned}

& 960.24 \hspace{2mm} \text {Rupees}\

&=960 \hspace{1mm}\text{Rupees} + 24\hspace{2mm} \text{Paise}\

&=960\times 100\hspace{1mm}\text{Paise} + 24\hspace{2mm} \text{Paise}\

&=96000+ 24\hspace{2mm} \text{Paise}\

&= 96024\hspace{2mm} \text{Paise}

\end{algined}

Conclusion

There are 100 Paise in 1 Rupee. We officially started using the Indian Ruppe on 30th November 1917. The early symbol for the Indian Rupee is ‘Rs’, Since 2010, the new symbol of the Indian Rupee is ‘₹’. Since the paisa coins were no longer in circulation and most vendors didn't choose to take them anymore, the RBI (Reserve Bank of India) decided to stop minting them. The 1 paisa coin stopped minting in 2011, and the 50 paisa coin stopped in 2019.