Post Utme Covenant University 2022 Commerce Question 39

Practice objective / multiple choice question 39 from the 2022 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2022 Commerce Objective / Multiple Choice
Question 39 POST_UTME_COVENANT_UNIVERSITY • 2022 • COMMERCE • objective

A bank has a reserve requirement of 10% and a cash reserve ratio of 20%. If the bank has 100 million naira in deposits, how much cash and reserves should the bank hold?

Answer Options

Correct Answer A. ₦20 million cash and ₦10 million reserves
B. ₦30 million cash and ₦15 million reserves
C. ₦40 million cash and ₦20 million reserves
D. ₦50 million cash and ₦25 million reserves
Correct Answer
A
Correct Option:
₦20 million cash and ₦10 million reserves

About This Question

This is Post Utme Covenant University 2022 Commerce Question 39. It is one of the objective questions from the 2022 Post Utme Covenant University Commerce examination.

View More Post Utme Covenant University 2022 Commerce Questions More Post Utme Covenant University Practice Questions Back to Questions

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