Asalam o alsikum mufti sahab I have 20 tola gold nd 40000$ in cash so how much I have to pay zakat kindly tell me
Assalam u Alaikum Wa Rahmatullah,
Dear sister Yumna,
May Allah reward you for your diligence in keeping up with your obligation of Zakah.
According to today's price of gold, the value of your gold is approximately $9475 and you need to add this $9475 to your cash of $40000
Now you will have to pay 2.5% of Zakah over this total value of $49475
Your approximate Zakah adds up to $1234.75
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America