The correct answer is: A. 1861
Paper currency was first introduced in India in 1861 by the British East India Company. The first paper currency issued by the British East India Company was the Indian Rupee. The Indian Rupee was divided into 16 annas, and each anna was divided into 12 pies.
The Indian Rupee was initially issued in denominations of 1, 2, 5, 10, 20, and 50 rupees. In 1872, the British East India Company also issued paper currency in denominations of 100 and 1000 rupees.
The Indian Rupee was replaced by the Indian National Rupee in 1947, after India gained independence from British rule. The Indian National Rupee is still the official currency of India today.
Option B, 1542, is incorrect because paper currency was not introduced in India until 1861.
Option C, 1601, is incorrect because paper currency was not introduced in India until 1861.
Option D, 1880, is incorrect because paper currency was introduced in India in 1861.