JAMB - Economics (2008 - No. 22)
If the required reserves of a bank is 20% and N10 000 is paid into its demand deposit account, what is the excess reserves?
N2000
N18 000
N12 000
N8 000
Explicació
Reserve = \(\frac{20}{100} X 10,000 = 2000
Excess reserve = 10,000 - 2000 = 8000