Post Utme Mountain Top University 2020 Commerce Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2020 Commerce Objective / Multiple Choice
Question 24 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2020 • COMMERCE • objective

A bank's reserve requirement is 10%. If the bank has ₦1,000,000 in deposits, how much must it keep in reserve?

Answer Options

A. ₦0
Correct Answer B. ₦100,000
C. ₦200,000
D. ₦500,000
Correct Answer
B
Correct Option:
₦100,000

About This Question

This is Post Utme Mountain Top University 2020 Commerce Question 24. It is one of the objective questions from the 2020 Post Utme Mountain Top 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