How to calculate zakat on gold with different way
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Please note that any debts you currently have outstanding, including any form of a loan, are ineligible. For this case, the amount of zakat for gold is = 2,5 % x 60,10 gram x idr 495.000,00/gram = idr 743.737,00 and for silver is = 2,5 % x 300 gram x idr 11.500,00/gram = idr 86.250,00. 2.5% of this = £1.
Zakat should be calculated at 2.5% of the market value as on the date of valuation (in our case we consider 1st of ramadan).
However, the prices of gold and silver changes with time. If gold (or silver) takes the shape of a forbidden form or use item (say, statuary, or silver or gold dinnerware) their market value is added to their gold worth and zakat is paid on the total amount at the current 2.5% rate of gold. Thus, we will multiply the net worth that we’ve just calculated with this rate: Nisaab is calculated based on the cash value equivalent of 3 ounces (87.48 grams) of gold or 21 ounces (612.36 grams) of silver.
