Old Monk is a dark rum produced by Mohan Meakin Limited in Ghaziabad, Uttar Pradesh, India, tracing it’s history back to the late 1820’s. It is a molasses distilled rum, blended and aged for a minimum of 7 years.
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Aged rum is older rums that have matured and lost a bit of the original liquid from evaporation, but have a more complex character than unaged rum. That amount of liquid that evaporates during aging is affectionately called the 'angels share'.
The best way to drink anything is the way that you like it. If you're looking for a suggestion - try it the same way you would whisky. Often rum is drank with a bit of water in it, or an ice cube or two. This gives rum the best sipping experience.
This depends. Often, rum is required to age for at least one year. However, rums are aged for differing years which attributes to changes in color and flavor. White rum is aged for the least amount of time, where dark rum is aged for some time.
Rum is aged in oak casks - commonly bourbon casks, but sometimes wooden casks or stainless steel tanks. Each distiller is different - so its always a good idea to read how they age their rum for a full understanding of the product.