Post Utme Caleb University 2020 Commerce Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2020 Commerce Objective / Multiple Choice
Question 19 POST_UTME_CALEB_UNIVERSITY • 2020 • COMMERCE • objective

A bank has a reserve requirement of 10% on deposits. If a customer deposits ₦10,000,000, what is the amount of cash that the bank must hold in reserve?

Answer Options

Correct Answer A. ₦1,000,000
B. ₦1,500,000
C. ₦2,000,000
D. ₦2,500,000
Correct Answer
A
Correct Option:
₦1,000,000

About This Question

This is Post Utme Caleb University 2020 Commerce Question 19. It is one of the objective questions from the 2020 Post Utme Caleb University Commerce examination.

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