AdmitMe
Economics · Financial institutions

EconomicsFinancial institutionsWAEC

If the cash reserve ratio is 10% and a bank receives a deposit of ₦100,000, the maximum total deposits that can be created is

Show answer

Answer: B. ₦1,000,000

Deposit × 1/0.1.

An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.

Practise Financial institutionsA timed set on this topic, freeAsk the AI TutorExplain it another way

Discussion

Ask about a step, share a shortcut, or explain it your way. Be kind; no links.

No comments yet. Be the first to explain it.

More Financial institutions questions