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?

a.15.71%
b.37.15%
c.84.29%
d.62.85%

c.84.29%

Explanation:

We been given the following

Quarterly tax revenue collected = $70 billion

To calculate the percentage of its total annual tax revenue is left for allocation to the remaining categories of government spending we the following method

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 will

= [ $44 billion ÷ $280 billion ] × 100

=1.57×100%

= 15.71%

Percentage of its total annual tax revenue is left for allocation to the remaining categories will be subtracting annual percentage tax revenue allocated from 100% , which we have as;

= 100% - 15.71%

= 84.29%

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