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Question
Assertion :Mohammad-bin-Tughlaq issued a new gold coin, which was called Dinar by Ibn Batuta. Reason: Mohammad-bin-Tughlaq wanted to issue token currency in gold coins to promote trade with West Asian and North African countries.
Assertion :Mohammad-bin-Tughlaq issued a new gold coin, which was called Dinar by Ibn Batuta. Reason: Mohammad-bin-Tughlaq wanted to issue token currency in gold coins to promote trade with West Asian and North African countries.
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Solution
The correct option is C Assertion is correct but Reason is incorrect
Mohammed-bin-Tughlaq introduced the "token currency system". Since money is merely a medium of exchange, token currencies do not have to depend on the supply of gold and silver. There was a shortage of silver in the world in the fourteenth century and that is why Mohammad-bin-Tughlaq introduced token currency. So the reason is not correct.
Mohammed-bin-Tughlaq introduced the "token currency system". Since money is merely a medium of exchange, token currencies do not have to depend on the supply of gold and silver. There was a shortage of silver in the world in the fourteenth century and that is why Mohammad-bin-Tughlaq introduced token currency. So the reason is not correct.
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