How much Zakat is applicable?

Society Religion & Philosophy
1

Hi all,

For Zakat purposes, can a mathematical whizz tell me the value of 20 tola Gold in £ or $ please?

Look forward to your responses :slight_smile:

2

Re: How much Zakat is applicable?

Erm no one?

3

Re: How much Zakat is applicable?

lol Seriously?

Amount of Gold = 20 tola x 11.663 = 233.26 grams of gold

Gold price (international Standard) per gram = 811.13/ 31.1034768 = 26.08 GBP

So value of your gold = 6083.06 GBP

Zakat (2.5%) = 6083.06 * 2.5 /100 = 152.076

4

Re: How much Zakat is applicable?

cool. your a genuis!

Its been 20 odd years since i last used maths!!! :)

5

Re: How much Zakat is applicable?

^^ so for 20 odd years ..no zakat :stuck_out_tongue:

Yeh the above makes sense :smiley:

ps. soo much gold .. are you looking after it for safe keeping for the saudi prince’s :hmmm: or are you one :hmmm:

6

Re: How much Zakat is applicable?

Its some of the missus gold which she has accumalted…so now intending to pay zakat on it!

Saudi prince…nah wouldnt wish that on anyone!!! :slight_smile:

7

Re: How much Zakat is applicable?

Slight correction ... You need to factor in the quality of the Gold. Below are the percentages by weight.

If you have different grades of gold for example bangles at 22 karat and earing at 12 karats and so on, each grade needs to be weighed separately and multiplied by the factor below. The calculation above assumes all of the weight of gold is 24 karat.

1 karat = 4.167%
6 karat = 25.000%
8 karat = 33.333%
12 karat = 50.000%
14 karat = 58.333%
18 karat = 75.000%
22 karat = 91.671%
24 karat = 100.000%

Pakistani 22 karat is really equivalent to just under 19.5 karat ... which is more or less 80% gold by weight, if you got 22 karat from Middle East or West then it will be as above 91.7%