A person holds an amount of RS 500000 for the hole year. Is he sahib-e-nisab? if yes find the amount of zakat he has to pay.
the amount of zakat is
annual saving*2.5%
and the answer in book is 96000
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Step-by-step explanation:
How much is Zakat percentage?
Zakat is based on income and the value of possessions. The common minimum amount for those who qualify is 2.5%, or 1/40 of a Muslim's total savings and wealth.
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