Is zakat due on goods bought for 280 pounds and whose profit is 170 pounds?

The merchant must evaluate his goods at the beginning of each Hijri year, then pay its Zakat, which is a quarter of a tenth (2.5%), if its value reaches the nisab and does not fall below it during the year. The principal capital and any profit generated from it must be zakatable, as the profit follows the original capital and is zakatable with it. The mentioned amount of 450 Egyptian pounds is not subject to Zakat, even if a year passes over it.