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4 April, 15:55

A government collects $70 billion quarterly in tax revenue. Each year it allocates $15 billion to the justice system and $29 billion for the administrative costs. What percentage of its total annual tax revenue is left for allocation to the remaining categories of government spending

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  1. 4 April, 16:15
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    84.29%

    Explanation:

    Quarterly tax revenue collected = $70 billion

    Thus,

    annual tax revenue collected = $70 billion * 4

    = $280 billion

    Total amount allocated = $15 billion + $29 billion

    = $44 billion

    Therefore,

    Percentage of annual tax revenue allocated

    = [ $44 billion : $280 billion ] * 100%

    = 15.71%

    Hence,

    Percentage of its total annual tax revenue is left for allocation to the remaining categories of government spending

    = 100% - 15.71%

    = 84.29%
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