Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions - You Must Calculate NISAB before calculating Zakat and compare it with the Zakatable income. ( Gold Rate of 24 Carat Gold is 214.00

image text in transcribed
Instructions - You Must Calculate NISAB before calculating Zakat and compare it with the Zakatable income. ( Gold Rate of 24 Carat Gold is 214.00 \& Pure Silver is at 2.34045 SAR per 1 Gram on September 15, 2022@2:30pm. Current Dollar rate is 3.76 Riyals \& British Pound =4.32SR. The market price of Al Rabibi Bank's share is SR - 89.50 per share on September 15, 2021@ 2:30pm, as per Tadayul ) Part - A Individual Simple Questions: 1) The Total Annual Gross Income of Mr.Abdullah ( if the total income is more than the NISAB rate) is SR33,800. How much Zakat should he pay? 2) The Total Annual Gross Income of Mr.Abdullah is SR33,800 and his total annual liabilities are 21,600 . How much Zakat should he pay? 3) The Total Annual Gross Income of Mr.Abdullah is SR33,800 and his total annual liabilities are 14,400 . How much Zakat should he pay? 4) Mr.Abdullah has a Cash of SR - 33,800 plus Ingots of Gold \& Silver worth of SR 16,600 and his total annual liabilities are 14,400 . How much Zakat should he pay? 5) Mr.Abdultah has a Cash of SR - 33,800, Ingots of Gold \& Silver worth of SR 16,600& Investment Bonds of SR-10,000 on which the whole lunar year has passed, and his total annual liabilities are 16,400 . How much Zakat should he pay? 6) Mr.Abdullah has a Cash of SR 33,800, Ingots of Gold \& Silver worth of SR 16,600, Investment Bonds of SR-10,000 \& Investment in Gold Jewellery worth of SR-15,000 on which the whole lunar year has passed, and his total annual liabilities are 16,400 . How much Zakat should he pay? 7) Mr.Abdullah has a monthly Salary of SR-10,000 from which he supports his parents giving them SR-1,500 per month, while his own monthly expenses are 2,000. How much Zakat should he pay? 8) Mr-Abdullah has a monthly Salary of SR-10,000 \& 2,000pm from a Part time job, from which he supports his parents giving them SR-2,500 per month, while his own monthly expenses are 4,000 . He also bought a 24 Carat Gold Bar of 100gm, which has covered 1 lunar year. How much Zakat should he pay? 9) Mr.Abdullah has a monthly Salary of SR10,000&2,000pm from a Part time job, from which he supports his parents giving them SR-2,500 per month, while his own monthly expenses are 4,000. He also bought a 24 Carat Gold Bar of 100gms, which has covered 1 lunar year and also kept 3,000 USD from his savings. How much Zakat should he pay

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

DeFi And The Future Of Finance

Authors: Campbell R. Harvey, Ashwin Ramachandran, Joey Santoro, Vitalik Buterin, Fred Ehrsam

1st Edition

1119836018, 978-1119836018

More Books

Students also viewed these Finance questions