Post Utme Madonna University 2023 Commerce Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2023 Commerce Objective / Multiple Choice
Question 20 POST_UTME_MADONNA_UNIVERSITY • 2023 • COMMERCE • objective

A bank's reserve requirement is 10%. If it has a cash reserve of ₦1,000,000, what is the maximum amount of loans it can give out?

Answer Options

A. ₦9,000,000
Correct Answer B. ₦10,000,000
C. ₦11,000,000
D. ₦12,000,000
Correct Answer
B
Correct Option:
₦10,000,000

About This Question

This is Post Utme Madonna University 2023 Commerce Question 20. It is one of the objective questions from the 2023 Post Utme Madonna University Commerce examination.

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