Read the given passage and answer the four questions that follow:-
As soon as I entered this fascinating world I was looked upon with great expectations. The world was full of racism yet I was held in high esteem. People from the United States of America to Antartica looked at me as I rolled out from the parentage of Europeans. Since economists, raging bulls and bears did not know much about me, I caught the apprehension of my parents, the share market holders, the financial experts, scholars, students and so on. At my birth, I was placed on the lap of my mother, the Federal Bank.
Frankly, my brother Lira, my sister Sterling and my extended family members like the Deutsch Mark and the Yen were quite jealous of me. I knew my worth. I reveal this secret of mine. I am a form of money held or traded outside the country, in whose currency its value is stated. In future I will be globally accepted by the members of all the nations.
I now take pride of place in Euromarket, a financial market which deals with European currencies. I do not want to roll over, but I'd love to be accepted by the developing as well as underdeveloped nations.
Identify the statement that is not true according to the passage:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → My uniqueness lies in my ability to be valid only in my own country.
This is the statement that is not true, because the passage says the opposite: the Euro is "a form of money held or traded outside the country" and hopes to be globally accepted. Its uniqueness is that it is valid beyond its own country, so this statement is not true.
Why the Other Options are Incorrect?
Option 1: The European financial markets went into a tizzy at the launch of the Euro. — Incorrect. A tizzy is a state of nervous excitement or worry. True in the passage: since the markets did not know much about the new currency, it "caught the apprehension" (anxiety) of share market holders and financial experts.
Example: The whole office was in a tizzy before the inspection.
Option 2: The other currencies were envious of the Euro. — Incorrect. True in the passage: Lira, Sterling, the Deutsch Mark and the Yen "were quite jealous" of it.
Option 3: In spite of the biases, nations across the world accepted me with open arms. — Incorrect. True in the passage: the world was full of racism, yet the Euro was held in high esteem, and people from the United States of America to Antartica looked at it with great expectations.