A government annually collects $520 billion in tax revenue and allocates $64 billion to education spending....

A government annually collects $520 billion in tax revenue and allocates $64 billion to education spending. What percentage of this government's budget is spent on education?

A. 24.50%

B. 12.31%

C. 13.21%

D. 30.13%

Expert Solution

Solution:-

The Percentage of government budget spent on education = $64 billion / $520 billion * 100

= 0.12307 * 100

= 12.31%

The correct option is (B) 12.31%

Rahul Sunny answered 2 years ago

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