Post Utme Covenant University 2022 Economics Question 39

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

Post Utme Covenant University 2022 Economics Objective / Multiple Choice
Question 39 POST_UTME_COVENANT_UNIVERSITY • 2022 • ECONOMICS • objective

A bank has a reserve requirement of 15%. If the bank's deposits are ₦120 million, how much must it keep in reserve?

Answer Options

Correct Answer A. ₦18 million
B. ₦20 million
C. ₦22 million
D. ₦24 million
Correct Answer
A
Correct Option:
₦18 million

About This Question

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

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