Question

For the state budget in 2022, an additional $5 million was allocated for education, keeping the budget unchanged. If the education budget grew by 5% of its value in 2021, calculate the total value of the state budget.


Annual Budget (2022) \begin{tabular}{|ll} \hline \( 34 \% \) & Education \\ \( 23 \% \) & Agriculture \\ Infrastructure \\ \( 22 \% \) & Healthcare \end{tabular}

• A. $500 million
• B. $250 million
• C. $100 million
• D. $750 million

Answer 1

The correct option is A $500 million

$Educationbudgetfor2021=x$
$⟹Educationbudgetfor2022=x+x\times \frac{5}{100}=\frac{105x}{100}=21\%$
$⟹x=21\%times\frac{100}{105}$
$⟹x=20\%$

Now,
$Educationbudget2021-Educationbudget2022$
$=21\%-20\%$
$=1\%$

$\text{So, the education budget for 2021 grew}\text{by 1\% of the total budget when an additional}\$5\text{million was included.}$

$Totalbudget=T\left(inmillions\right)$
$\$5million=1\%ofthetotalbudget$
$⟹5=\frac{1}{100}\times T$
$⟹T=5\times 100=\$500million$

Total value of state budget is $500 million.