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. 84.29%
B. 15.71%
C. 62.85%
D. 37.15%
Answer:A
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. 84.29% B. 15.71% C. 62.85% D. 37.15%
Explanation: **This question has a higher degree of difficulty because students must calculate total annual revenue based on tax revenue collected quarterly prior to calculating the remaining percentage.