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Business Maths for Kids Worksheet: Part 2 Test

Entrepreneurship lesson 16: Part 2 test: money in a business · Set 23 · 40 questions
TalentJR

Business tip (Know your numbers): Profit = SP − CP; loss = CP − SP; cost of one = batch cost ÷ number. Break-even = fixed costs ÷ profit on one; markup = cost × % ÷ 100. Profit = income − expenses; simple interest = P × R × T ÷ 100.

NameDateTime takenScore ___ / 40
  1. 1.One jute bag costs ₹36 to make. Farhan wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  2. 2.📒 Income or expense: tutoring fees received? (a) expense (b) income
  3. 3.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  4. 4.True or false: “buying lemons” is an expense (money out). (a) False (b) True
  5. 5.Which of these is a running cost? (a) a cash box (b) a folding table (c) sugar (d) a price board
  6. 6.A stall’s fixed costs are ₹266. Each painted pebble costs ₹17 to make and sells for ₹31. How many must be sold to break even?
  7. 7.A batch of 25 cups of lemonade costs ₹300 to make. Aarav sells each one for ₹15. What is the profit on each one (in ₹)?
  8. 8.🐷 Saving, reinvesting or spending: a new video game? (a) saving (b) spending (c) reinvesting
  9. 9.One jute bag costs ₹30 to make. Meera adds a 50% markup. What is the selling price (in ₹)?
  10. 10.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  11. 11.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  12. 12.One paper bookmark costs ₹22 to make. Lakshmi adds a 50% markup. What is the selling price (in ₹)?
  13. 13.A batch of 25 cups of lemonade costs ₹100 to make. What does one cost to make (in ₹)?
  14. 14.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) never
  15. 15.A batch of 10 glasses of chai costs ₹90 to make. Nisha sells all 10 at ₹17 each. What is the total profit on the batch (in ₹)?
  16. 16.A batch of 25 glasses of chai costs ₹250 to make. Saanvi sells all 25 at ₹18 each. What is the total profit on the batch (in ₹)?
  17. 17.True or false: “a card order paid” is income (money in). (a) True (b) False
  18. 18.One fruit cup costs Ishaan ₹53 to make and sells for ₹50. Is that a profit or a loss? (a) Profit (b) Loss
  19. 19.🏷️ Cost price means… (a) what the buyer pays (b) the profit (c) the discount (d) what it cost you
  20. 20.True or false: “sugar” is a one-time cost. (a) True (b) False
  21. 21.One potted plant costs ₹30 to make. Zoya adds a 20% markup. What is the profit on one (in ₹)?
  22. 22.Ananya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹100 (transport)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
  23. 23.True or false: “money from sales” is income (money in). (a) False (b) True
  24. 24.One fruit cup costs ₹18 to make. Ananya wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  25. 25.💵 Selling price means… (a) what it cost you (b) the loss (c) what the buyer pays (d) the stall fee
  26. 26.One potted plant costs ₹30 to make. Kabir wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  27. 27.Which of these is reinvesting in the business? (a) a cinema ticket (b) more seeds for next time (c) sweets for yourself (d) profit put in a bank
  28. 28.One painted pebble costs ₹15 to make. Ishaan adds a 20% markup. What is the profit on one (in ₹)?
  29. 29.A small family shop borrows ₹100 from a bank at 3% simple interest per year. How much must it pay back in all after 3 years (in ₹)?
  30. 30.🏷️ Cost-plus pricing means… (a) cost + a markup (b) copy a rival (c) guess any price (d) cost − a markup
  31. 31.⚖️ “Break-even” means… (a) you borrowed money (b) you stopped selling (c) profit is huge (d) sales = all costs
  32. 32.Which of these is a running cost? (a) a folding table (b) a price board (c) ice (d) a cloth banner
  33. 33.🧮 A 50% markup on a ₹20 cost adds… (a) 50 rupees (b) 20 rupees (c) 10 rupees (d) 5 rupees
  34. 34.Which of these is saving? (a) a piggy bank for later (b) more seeds for next time (c) a new video game (d) sweets for yourself
  35. 35.True or false: “tea leaves and milk” is a one-time cost. (a) False (b) True
  36. 36.True or false: “a cash box” is a running cost. (a) True (b) False
  37. 37.One fruit cup costs ₹44 to make. Saanvi adds a 50% markup. What is the profit on one (in ₹)?
  38. 38.🐷 Saving, reinvesting or spending: buying a second juicer? (a) spending (b) saving (c) reinvesting
  39. 39.📒 One-time cost or running cost: ice? (a) a one-time cost (b) a running cost
  40. 40.Which of these is reinvesting in the business? (a) better paint for cards (b) sweets for yourself (c) an emergency fund (d) profit put in a bank

Answer key

  1. 51
  2. income
  3. cost price
  4. True
  5. sugar
  6. 19
  7. 3
  8. spending
  9. 45
  10. selling price
  11. selling price
  12. 33
  13. 4
  14. SP more than CP
  15. 80
  16. 200
  17. True
  18. Loss
  19. what it cost you
  20. False
  21. 6
  22. 90
  23. True
  24. 29
  25. what the buyer pays
  26. 35
  27. more seeds for next time
  28. 3
  29. 109
  30. cost + a markup
  31. sales = all costs
  32. ice
  33. 10 rupees
  34. a piggy bank for later
  35. False
  36. False
  37. 22
  38. reinvesting
  39. a running cost
  40. better paint for cards

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