Post Utme Caleb University 2024 Commerce Question 17

Practice objective / multiple choice question 17 from the 2024 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2024 Commerce Objective / Multiple Choice
Question 17 POST_UTME_CALEB_UNIVERSITY • 2024 • COMMERCE • objective

A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦10,000,000, how much cash must it reserve?

Answer Options

Correct Answer A. ₦2,000,000
B. ₦1,500,000
C. ₦2,500,000
D. ₦3,000,000
Correct Answer
A
Correct Option:
₦2,000,000

About This Question

This is Post Utme Caleb University 2024 Commerce Question 17. It is one of the objective questions from the 2024 Post Utme Caleb University Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support