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Business Maths for Kids Worksheet: Part 2 Test

Entrepreneurship lesson 16: Part 2 test: money in a business · Set 33 · 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.

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  1. 1.It costs ₹18 to make one jute bag. Gurpreet sells it for ₹23. What is the profit on one (in ₹)?
  2. 2.📒 One-time cost or running cost: a cooler box? (a) a one-time cost (b) a running cost
  3. 3.🔍 Which is the odd one out? (a) a cash box (b) a cooler box (c) paper cups (d) a folding table
  4. 4.🐷 Saving, reinvesting or spending: a cinema ticket? (a) reinvesting (b) saving (c) spending
  5. 5.A small family shop borrows ₹900 from a bank at 8% simple interest per year. How much interest is due after 1 year (in ₹)?
  6. 6.One fruit cup costs ₹56 to make. Diya adds a 25% markup. What is the selling price (in ₹)?
  7. 7.🐷 Why save part of the profit? (a) to waste it later (b) saving is a loss (c) for bad days and goals (d) no reason
  8. 8.Zoya pays ₹288 for a table and a banner (fixed costs). Each glass of chai sold makes ₹12 profit. How many must be sold to break even?
  9. 9.Riya’s stall budget is ₹440. Lemons cost ₹180, sugar cost ₹140 and a banner cost ₹90. How many rupees of the budget are left?
  10. 10.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  11. 11.Which of these is a one-time cost? (a) tea leaves and milk (b) a juicer (c) card paper (d) sugar
  12. 12.📒 One-time cost or running cost: a folding table? (a) a running cost (b) a one-time cost
  13. 13.🏦 Interest on a loan is… (a) free money (b) the cost of borrowing (c) a gift (d) a discount
  14. 14.True or false: “money got from a sale” is the cost price. (a) True (b) False
  15. 15.A batch of 25 handmade cards costs ₹200 to make. Diya sells each one for ₹10. What is the profit on each one (in ₹)?
  16. 16.A small family shop borrows ₹1000 from a bank at 6% simple interest per year. How much interest is due after 2 years (in ₹)?
  17. 17.One handmade card costs Tara ₹23 to make and sells for ₹17. Is that a profit or a loss? (a) Profit (b) Loss
  18. 18.🎉 After the break-even point, each extra item sold… (a) adds loss (b) changes nothing (c) is free (d) adds profit
  19. 19.A stall’s fixed costs are ₹44. Each handmade card costs ₹23 to make and sells for ₹27. How many must be sold to break even?
  20. 20.It costs ₹27 to make one clay diya. Kavya sells it for ₹37. What is the profit on one (in ₹)?
  21. 21.📒 Income or expense: buying paper cups? (a) income (b) expense
  22. 22.One fruit cup costs ₹36 to make and Joseph sells it for ₹54. What is the markup in percent?
  23. 23.📉 A price below the cost leads to… (a) free stock (b) break-even (c) a loss (d) a profit
  24. 24.It costs ₹50 to make one jute bag. On the last day Meera sells it for only ₹49. How much is the loss on one (in ₹)?
  25. 25.A batch of 10 cupcakes costs ₹90 to make. Meera sells each one for ₹16. What is the profit on each one (in ₹)?
  26. 26.One glass of chai costs ₹12 to make. Rohan adds a 25% markup. What is the profit on one (in ₹)?
  27. 27.A stall’s fixed costs are ₹155. Each jute bag costs ₹24 to make and sells for ₹29. How many must be sold to break even?
  28. 28.A batch of 25 bags of popcorn costs ₹200 to make. Ananya sells each one for ₹11. What is the profit on each one (in ₹)?
  29. 29.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
  30. 30.📈 When is there a profit? (a) SP equal to CP (b) never (c) SP less than CP (d) SP more than CP
  31. 31.🏷️ Cost-plus pricing means… (a) cost − a markup (b) copy a rival (c) cost + a markup (d) guess any price
  32. 32.A batch of 50 cupcakes costs ₹250 to make. Aarav sells all 50 at ₹9 each. What is the total profit on the batch (in ₹)?
  33. 33.📦 Why work out the cost of ONE item? (a) to look clever (b) to spend more (c) it does not matter (d) to set a good price
  34. 34.Which of these is a one-time cost? (a) paper cups (b) lemons (c) card paper (d) a cash box
  35. 35.💵 Selling price means… (a) what it cost you (b) the stall fee (c) the loss (d) what the buyer pays
  36. 36.One potted plant costs ₹15 to make and Ishaan sells it for ₹18. What is the markup in percent?
  37. 37.One friendship band costs ₹60 to make. Ishaan adds a 10% markup. What is the profit on one (in ₹)?
  38. 38.🐷 Saving, reinvesting or spending: buying a second juicer? (a) spending (b) reinvesting (c) saving
  39. 39.One glass of chai costs ₹15 to make. Ishaan adds a 100% markup. What is the selling price (in ₹)?
  40. 40.One clay diya costs ₹40 to make. Gurpreet adds a 10% markup. What is the selling price (in ₹)?

Answer key

  1. 5
  2. a one-time cost
  3. paper cups
  4. spending
  5. 72
  6. 70
  7. for bad days and goals
  8. 24
  9. 30
  10. cost price
  11. a juicer
  12. a one-time cost
  13. the cost of borrowing
  14. False
  15. 2
  16. 120
  17. Loss
  18. adds profit
  19. 11
  20. 10
  21. expense
  22. 50
  23. a loss
  24. 1
  25. 7
  26. 3
  27. 31
  28. 3
  29. the same day
  30. SP more than CP
  31. cost + a markup
  32. 200
  33. to set a good price
  34. a cash box
  35. what the buyer pays
  36. 20
  37. 6
  38. reinvesting
  39. 30
  40. 44

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