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Practice these MCQs in the appQuick fact: Zakat is paid at 2.5% of total wealth, so if Zakat is Rs. 8,500, the total wealth is Rs. 340,000 (8,500 ÷ 0.025).
Zakat is an obligatory annual charity in Islam calculated at the rate of 2.5% (or 1/40) on surplus wealth that has been held for one full lunar year above the Nisab threshold. To find the total wealth from a given Zakat amount, divide the Zakat paid by 0.025 (or multiply by 40). Here, Rs. 8,500 × 40 = Rs. 340,000, which represents the total Zakatable wealth.
Zakat is one of the five pillars of Islam and is levied on gold, silver, cash, trade goods, livestock, and agricultural produce at varying rates. The standard rate for cash, gold, and silver is 2.5%. The Nisab for gold is 7.5 tolas (87.48 grams) and for silver is 52.5 tolas (612.36 grams). Zakat becomes obligatory when a Muslim's wealth exceeds the Nisab and remains above it for one complete lunar year.
