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TABLE 3: NATIONAL BUDGET AND EDUCATION BUDGET OF SOUTH AFRICA FOR 2017/18 NATIONAL BUDGET OF SOUTH AFRICA (IN RAND) Economic affairs and agriculture 241,6 billion Defence and public safety 198,7 billion Health 187,5 billion General admin 70,7 billion Local development and infrastructure 195,8 billion Debt service costs 162,4 billion Social protection 180,0 billion Education 320,5 billion EDUCATION BUDGET OF SOUTH AFRICA (IN RAND) Basic education 216,7 billion University subsidies 31,6 billion Education administration 15,8 billion Skills development levy institutions 21,1 billion National student financial aid scheme (NSFAS) 15,3 billion Technical and vocational education and training 7,5 billion Total 300,6 billion (Adapted from www.graphics24.com) Use TABLE 3 above to answer the questions that follow - NSC Mathematical Literacy - Question 3 - 2018 - Paper 1
Question 3
TABLE 3: NATIONAL BUDGET AND EDUCATION BUDGET OF SOUTH AFRICA FOR 2017/18 NATIONAL BUDGET OF SOUTH AFRICA (IN RAND) Economic affairs and agriculture 241,6 billion ... show full transcript
Worked Solution & Example Answer:TABLE 3: NATIONAL BUDGET AND EDUCATION BUDGET OF SOUTH AFRICA FOR 2017/18 NATIONAL BUDGET OF SOUTH AFRICA (IN RAND) Economic affairs and agriculture 241,6 billion Defence and public safety 198,7 billion Health 187,5 billion General admin 70,7 billion Local development and infrastructure 195,8 billion Debt service costs 162,4 billion Social protection 180,0 billion Education 320,5 billion EDUCATION BUDGET OF SOUTH AFRICA (IN RAND) Basic education 216,7 billion University subsidies 31,6 billion Education administration 15,8 billion Skills development levy institutions 21,1 billion National student financial aid scheme (NSFAS) 15,3 billion Technical and vocational education and training 7,5 billion Total 300,6 billion (Adapted from www.graphics24.com) Use TABLE 3 above to answer the questions that follow - NSC Mathematical Literacy - Question 3 - 2018 - Paper 1
Step 1
Step 2
Explain the term budget within the context above.
Answer
A budget is a financial plan that outlines expected revenues and expenditures over a specific period. In this context, it reflects how the government allocates funds to various sectors, including education and economic affairs, indicating priorities and financial management.
Step 3
Step 4
Calculate the percentage of the total education budget that is allocated to the NSFAS.
Answer
The total education budget is R300.6 billion, and the NSFAS receives R15.3 billion. To find the percentage:
ext{Percentage} = rac{15.3 ext{ billion}}{300.6 ext{ billion}} imes 100 = 5.09 ext{%}
Thus, the percentage of the total education budget allocated to NSFAS is approximately 5.09%.
Step 5
Estimate the combined budget, as a percentage, for education administration and the NSFAS.
Answer
The funding for education administration is R15.8 billion, and for NSFAS is R15.3 billion. Their combined amount is:
To find the percentage of the total education budget:
ext{Combined Percentage} = rac{31.1 ext{ billion}}{300.6 ext{ billion}} imes 100 ext{ (approximately)} = 10.34 ext{%}
Therefore, the estimated combined budget for education administration and NSFAS as a percentage of the total education budget is approximately 10.34%.