Post Utme Summit University 2022 Commerce Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Summit University Commerce examination.

Post Utme Summit University 2022 Commerce Objective / Multiple Choice
Question 12 POST_UTME_SUMMIT_UNIVERSITY • 2022 • COMMERCE • objective

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

Answer Options

A. ₦100,000
Correct Answer B. ₦110,000
C. ₦120,000
D. ₦130,000
Correct Answer
B
Correct Option:
₦110,000

About This Question

This is Post Utme Summit University 2022 Commerce Question 12. It is one of the objective questions from the 2022 Post Utme Summit 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