Q
Easy 1 Mark
Islamic Studies The Five Pillars of Islam – First Pillar: Shahadah (Kalimah Tayyibah)
What is the standard Zakah rate on gold, silver, savings, and trade goods?
Explanation
The standard Zakah rate on gold, silver, cash savings, and trade goods is 2.5% of the total wealth annually, provided Nisab is met and one full lunar year (Hawl) has passed.
Reference: Five Pillars of Islam Notes , Page 3
Hint
It is a quarter of a tenth (1/40) of one's total wealth.
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