Post Utme Nile University 2018 Economics Question 8

Practice objective / multiple choice question 8 from the 2018 Post Utme Nile University Economics examination.

Post Utme Nile University 2018 Economics Objective / Multiple Choice
Question 8 POST_UTME_NILE_UNIVERSITY • 2018 • ECONOMICS • objective

The Central Bank of Nigeria has increased the reserve requirement for commercial banks from 10% to 15%. If a commercial bank has a deposit of ₦100,000,000, calculate the amount of cash it must keep in reserve.

Answer Options

A. ₦15,000,000
Correct Answer B. ₦17,500,000
C. ₦20,000,000
D. ₦22,500,000
Correct Answer
B
Correct Option:
₦17,500,000

About This Question

This is Post Utme Nile University 2018 Economics Question 8. It is one of the objective questions from the 2018 Post Utme Nile University Economics 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