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?
- A. N 100 000
- B. N 800 000
- C. N 1000 000
- D. N 8000 000
Correct Answer: B. N 800 000
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