Final answer:
Nosheen must pay zakat of Rs 1562 on the saved amount of rs 62,480 for a complete lunar year, as zakat is calculated at a standard rate of 2.5%.
Step-by-step explanation:
Zakat is a form of alms-giving treated in Islam as a religious obligation or tax, which, by Quranic ranking, is next after prayer (salat) in importance. The question relates to the calculation of zakat, which is a financial matter, so the subject is Mathematics. As per Islamic law, the standard minimum rate of zakat is 2.5% on the total amount of money saved for an entire lunar year.
To calculate the zakat that Nosheen has to pay on an amount of rs 62,480, which she has saved for a complete year, you can use the following formula:
Zakat = Total amount × Zakat rate
Let's calculate the zakat:
Zakat = 62,480 × 0.025
Zakat = 1562
Therefore, Nosheen must pay zakat of Rs 1562.