Post Utme Nile University 2021 Commerce Question 40

Practice objective / multiple choice question 40 from the 2021 Post Utme Nile University Commerce examination.

Post Utme Nile University 2021 Commerce Objective / Multiple Choice
Question 40 POST_UTME_NILE_UNIVERSITY • 2021 • COMMERCE • objective

A bank has a reserve requirement of 10% and a cash reserve of ₦1 million. What is the maximum amount of credit that the bank can extend to its customers?

Answer Options

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

About This Question

This is Post Utme Nile University 2021 Commerce Question 40. It is one of the objective questions from the 2021 Post Utme Nile University Commerce examination.

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