Post Utme Wellspring University 2024 Commerce Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2024 Commerce Objective / Multiple Choice
Question 15 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • COMMERCE • objective

A bank has a reserve requirement of 10%. If the bank's deposits are ₦10,000,000, what is the minimum amount of reserves it must hold?

Answer Options

Correct Answer A. ₦1,000,000
B. ₦1,500,000
C. ₦2,000,000
D. ₦2,500,000
Correct Answer
A
Correct Option:
₦1,000,000

About This Question

This is Post Utme Wellspring University 2024 Commerce Question 15. It is one of the objective questions from the 2024 Post Utme Wellspring University Commerce examination.

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