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Islamic Studies QUESTION #7926
Question 1
What is the rate of Zakat on silver, gold and currency?
  • 2%
  • 2½%✔️
  • 1½%
  • 2.25%
Correct Answer Explanation
The rate of Zakat on silver, gold, and currency is 2.5% (or 2½%). This applies when the wealth reaches the Nisab (minimum threshold) and has been possessed for one complete lunar year. For gold, the Nisab is 87.48 grams, and for silver, it is 612.36 grams.