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?

By: |Published on: Aug 6|Categories: Economics WAEC| 0 comments

A. N 100 000
B. N 800 000
C. N 1000 000
D. N 8000 000

Correct Answer:

Option B – N 800 000

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