"Banjo and piano"
Translation:Банджо і піаніно
No. At least not in the Ukrainian spoken in Ukraine (I don't know about Canadian Ukrainian).
However, фортепіа́но works. Technically, фортепіа́но is a more generic term: it can refer to any kind of piano; піані́но is an 'upright piano', it's a type of фортепіа́но. And another type of фортепіа́но is роя́ль 'a grand piano'. However, since піані́но is the most common type of the piano, it's used much more often as a translation of 'piano' (even though it's technically incorrect), and фортепіа́но is used only when precision is important.
Піа́но means 'quietly' in reference to music, it's not a name of the musical instrument.
I've just found an example of this word used. In an 1920 book «Ukrainian Folk Songs for Piano — Українські народні пісні на пяно», published in New York («пяно» here is likely to correspond to «пʼяно» in modern orthography; at least words like «вʼяне» are written «вяне» in this book).