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The Zakat payable on 10 million dollars is

Islamic Religious Knowledge (IRK)
WAEC 2016

The Zakat payable on 10 million dollars is

  • A. $250,000
  • B. $50,000
  • C. $150,000
  • D. $200,000
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Correct Answer: Option A
Explanation

The zakat payable on 10 million dollars is $250,000. The amount of zakat paid on capital assets (e.g. money) and stock-in-trade and jewelry is customarily 2.5% (1/40)

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