Correct Answer: Correct answer is: (B) Magnetic-ink reader.
Exam Relevance: Banking exams, IT exams, Competitive exams
Difficulty: Easy
Concept notes: Magnetic-ink character recognition (MICR) is the technology used to read the numbers and letters printed on the bottom of bank cheques.
Common Mistakes: Students may confuse magnetic-ink readers with optical-mark readers, which are used for reading filled-in bubbles on standardized test forms.
Explanations: Magnetic-ink readers are specifically designed to read the unique magnetic ink used on bank cheques. This ink contains the account number, cheque number, and bank routing number, which are essential for processing the cheque. The magnetic properties of the ink allow the reader to accurately and quickly identify these details, making it the most appropriate technology for this task.
Option Analysis: - Option A: Optical-mark readers are used for reading filled-in bubbles on standardized test forms, not for reading bank cheques.
- Option B: Magnetic-ink readers are the correct choice for reading the magnetic ink on bank cheques.
- Option C: Bar-code readers are used for scanning barcodes, not for reading the magnetic ink on bank cheques.
- Option D: This option is incorrect as the correct answer is provided by option B.
Mnemonic: Magnetic Ink, Cheque Read, MICR
The MCQ is quite entertaining and will help in increasing knowledge also.
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