If the required reserves of a bank is 20% and N10 000 is paid into its demand deposit account, what is the excess reserves? - SchoolNGR

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If the required reserves of a bank is 20% and N10 000 is paid into its demand deposit ...

If the required reserves of a bank is 20% and N10 000 is paid into its demand deposit account, what is the excess reserves?

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A N2000
B N18 000
C N12 000
D N8 000

Correct Answer: Option D

Explanation:

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