Post Utme Abu 2023 Economics Question 24

Practice objective / multiple choice question 24 from the 2023 Post Utme Abu Economics examination.

Post Utme Abu 2023 Economics Objective / Multiple Choice
Question 24 POST_UTME_ABU • 2023 • ECONOMICS • objective

The central bank of Nigeria has increased the reserve requirement for commercial banks from 10% to 12%. If a commercial bank has a deposit of ₦100 million, what will be the new reserve requirement?

Answer Options

A. ₦12 million
Correct Answer B. ₦12.5 million
C. ₦13 million
D. ₦13.5 million
Correct Answer
B
Correct Option:
₦12.5 million

About This Question

This is Post Utme Abu 2023 Economics Question 24. It is one of the objective questions from the 2023 Post Utme Abu Economics examination.

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