Post Utme Madonna University 2023 Commerce Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2023 Commerce Objective / Multiple Choice
Question 12 POST_UTME_MADONNA_UNIVERSITY • 2023 • 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 Madonna University 2023 Commerce Question 12. It is one of the objective questions from the 2023 Post Utme Madonna 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