Indian Contributions to Financial History

Description: This quiz aims to test your knowledge about the significant contributions made by Indians to the field of financial history.
Number of Questions: 15
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Tags: indian mathematics financial history indian contributions
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Who is considered the father of Indian financial mathematics?

  1. Aryabhata

  2. Bhaskara II

  3. Brahmagupta

  4. Srinivasa Ramanujan


Correct Option: A
Explanation:

Aryabhata, an ancient Indian mathematician and astronomer, is widely regarded as the father of Indian financial mathematics due to his contributions to the field.

What is the name of the ancient Indian treatise on mathematics and astronomy that contains significant financial concepts?

  1. The Vedas

  2. The Upanishads

  3. The Arthashastra

  4. The Bhagavad Gita


Correct Option: C
Explanation:

The Arthashastra, written by Chanakya, is an ancient Indian treatise that covers a wide range of topics, including finance and economics.

Which Indian mathematician developed the concept of the 'rule of 72' for approximating compound interest?

  1. Aryabhata

  2. Bhaskara II

  3. Brahmagupta

  4. Srinivasa Ramanujan


Correct Option: B
Explanation:

Bhaskara II, also known as Bhaskaracharya, developed the concept of the 'rule of 72' for approximating compound interest.

What is the name of the ancient Indian system of money lending that involved the use of promissory notes?

  1. Hundis

  2. Benamis

  3. Chit Funds

  4. Nadis


Correct Option: A
Explanation:

Hundis were a form of promissory notes used in ancient India for money lending and credit transactions.

Who is credited with introducing the concept of zero and negative numbers to the world?

  1. Aryabhata

  2. Bhaskara II

  3. Brahmagupta

  4. Srinivasa Ramanujan


Correct Option: C
Explanation:

Brahmagupta is credited with introducing the concept of zero and negative numbers to the world.

Which Indian mathematician developed the concept of the 'Fibonacci sequence'?

  1. Aryabhata

  2. Bhaskara II

  3. Brahmagupta

  4. Srinivasa Ramanujan


Correct Option: A
Explanation:

Aryabhata developed the concept of the 'Fibonacci sequence', which is a series of numbers where each number is the sum of the two preceding ones.

What is the name of the ancient Indian system of accounting that involved the use of double-entry bookkeeping?

  1. Hundis

  2. Benamis

  3. Chit Funds

  4. Nadis


Correct Option: B
Explanation:

Benamis was an ancient Indian system of accounting that involved the use of double-entry bookkeeping.

Who is considered the father of modern Indian banking?

  1. Dadabhai Naoroji

  2. Gopal Krishna Gokhale

  3. Bal Gangadhar Tilak

  4. Jawaharlal Nehru


Correct Option: A
Explanation:

Dadabhai Naoroji is considered the father of modern Indian banking due to his contributions to the establishment of the first modern banks in India.

Which Indian economist developed the concept of 'drain theory' to explain the economic exploitation of India by the British?

  1. Dadabhai Naoroji

  2. Gopal Krishna Gokhale

  3. Bal Gangadhar Tilak

  4. Jawaharlal Nehru


Correct Option: A
Explanation:

Dadabhai Naoroji developed the concept of 'drain theory' to explain the economic exploitation of India by the British.

What is the name of the first Indian-owned bank established in India?

  1. Bank of India

  2. State Bank of India

  3. Punjab National Bank

  4. Allahabad Bank


Correct Option: A
Explanation:

Bank of India was the first Indian-owned bank established in India in 1906.

Which Indian economist is known for his work on the 'Theory of Economic Development'?

  1. Amartya Sen

  2. Jagdish Bhagwati

  3. Manmohan Singh

  4. Raghuram Rajan


Correct Option: A
Explanation:

Amartya Sen is known for his work on the 'Theory of Economic Development'.

What is the name of the Indian economist who developed the 'Hindu rate of growth' concept?

  1. Raj Krishna

  2. Jagdish Bhagwati

  3. Manmohan Singh

  4. Raghuram Rajan


Correct Option: A
Explanation:

Raj Krishna developed the 'Hindu rate of growth' concept.

Which Indian economist is known for his work on the 'Gains from Trade' theorem?

  1. Jagdish Bhagwati

  2. Manmohan Singh

  3. Raghuram Rajan

  4. Arvind Subramanian


Correct Option: A
Explanation:

Jagdish Bhagwati is known for his work on the 'Gains from Trade' theorem.

What is the name of the Indian economist who served as the Chief Economic Advisor to the Government of India?

  1. Manmohan Singh

  2. Raghuram Rajan

  3. Arvind Subramanian

  4. Kaushik Basu


Correct Option: A
Explanation:

Manmohan Singh served as the Chief Economic Advisor to the Government of India.

Which Indian economist is known for his work on the 'Behavioral Economics'?

  1. Raghuram Rajan

  2. Arvind Subramanian

  3. Kaushik Basu

  4. Abhijit Banerjee


Correct Option: D
Explanation:

Abhijit Banerjee is known for his work on the 'Behavioral Economics'.

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