The sum of N80,000 is deposited in a bank and the cash ratio of the…

Economics JAMB 1993

The sum of N80,000 is deposited in a bank and the cash ratio of the banking system is 10%. calculate the sum of money the bank can create from the deposit?

  • N 100 000
  • N 800 000 checkmark
  • N 1000 000
  • N 8000 000

The correct answer is: B

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