Post Utme Igbinedion University 2020 Commerce Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2020 Commerce Objective / Multiple Choice
Question 1 POST_UTME_IGBINEDION_UNIVERSITY • 2020 • COMMERCE • objective

A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦1,000,000, how much cash must it reserve?

Answer Options

Correct Answer A. ₦200,000
B. ₦250,000
C. ₦300,000
D. ₦400,000
Correct Answer
A
Correct Option:
₦200,000

About This Question

This is Post Utme Igbinedion University 2020 Commerce Question 1. It is one of the objective questions from the 2020 Post Utme Igbinedion University Commerce examination.

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