Post Utme Rhema University 2023 Economics Question 5

Practice objective / multiple choice question 5 from the 2023 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2023 Economics Objective / Multiple Choice
Question 5 POST_UTME_RHEMA_UNIVERSITY • 2023 • ECONOMICS • objective

The central bank of Nigeria has increased the reserve requirement from 10% to 15%. If the commercial banks have a total deposit of ₦1,000,000, what is the increase in the reserve requirement?

Answer Options

A. ₦50,000
Correct Answer B. ₦75,000
C. ₦100,000
D. ₦125,000
Correct Answer
B
Correct Option:
₦75,000

About This Question

This is Post Utme Rhema University 2023 Economics Question 5. It is one of the objective questions from the 2023 Post Utme Rhema University Economics examination.

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