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Could you explain how to calculate Zakat with an example?

A person met their basic needs. One year later, they had £3.800 in money, 50g of gold (jewelry), £1.250 in savings or money in housing savings.
50g of gold itself is not a quantitative amount. However, this time is subject to Zakat because other means exceed the quorum.

 

Then 50g x £44.463* = £2223.15
Accordingly: £3,800 + £2223.15 + £1,250 = £7273.15. From this amount, %2.5 needs to be paid as Zakat.
This means  £7273.15 x 0.025 = £181.83 Zakat.

 

The gram calculation of gold should be determined according to the date when Zakat is paid.
* Gram price of 22k gold on 01/05/2022: £44.463