Test Index

WAEC IRS 2010 Paper

© africaexams.com

Question : 41

Total: 50

The zakat payable on farm produce worth \$25000.00 is

$\$2,500$
$\$2,000$
$\$1,500$
$\$1,000$

Solution:

Concept:

Zakat on farm produce from rain-fed land is charged at the rate of one-tenth, that is,

10\%

of the total value.

Explanation:

Value of the farm produce is

\$25{,}000.00

.

Zakat rate on farm produce is

10\%

.

Zakat payable

= 10\% \times 25{,}000

.

= \frac{10}{100} \times 25{,}000 = 2{,}500

.

Therefore, the zakat payable is

\$2{,}500

.

Answer:

A.

\$2{,}500

© africaexams.com

Go to Question:

Prev Question

Next Question