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Business Maths for Kids Worksheet: Part 2 Test

Entrepreneurship lesson 16: Part 2 test: money in a business · Set 37 · 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-time cost or running cost: a juicer? (a) a one-time cost (b) a running cost
  2. 2.🎉 After the break-even point, each extra item sold… (a) changes nothing (b) adds loss (c) is free (d) adds profit
  3. 3.True or false: “what a customer pays” is the selling price. (a) False (b) True
  4. 4.One handmade card costs ₹26 to make and Rohan sells it for ₹52. What is the markup in percent?
  5. 5.One fruit cup costs Lakshmi ₹57 to make and sells for ₹47. Is that a profit or a loss? (a) Profit (b) Loss
  6. 6.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  7. 7.One fruit cup costs ₹50 to make and Zoya sells it for ₹60. What is the markup in percent?
  8. 8.📉 When is there a loss? (a) SP more than CP (b) always (c) SP less than CP (d) SP equal to CP
  9. 9.A small family shop borrows ₹500 from a bank at 8% simple interest per year. How much must it pay back in all after 1 year (in ₹)?
  10. 10.📒 One-time cost or running cost: a cloth banner? (a) a one-time cost (b) a running cost
  11. 11.Dev makes 7 fruit cups at a cost of ₹5 each and sells all of them at ₹18 each. What is the total profit (in ₹)?
  12. 12.One glass of chai costs ₹16 to make. Diya adds a 100% markup. What is the selling price (in ₹)?
  13. 13.One clay diya costs ₹60 to make. Rohan adds a 20% markup. What is the profit on one (in ₹)?
  14. 14.💵 Selling price means… (a) the stall fee (b) the loss (c) what the buyer pays (d) what it cost you
  15. 15.Aarav’s stall budget is ₹400. A banner cost ₹30, paper cups cost ₹260 and seeds cost ₹80. How many rupees of the budget are left?
  16. 16.A stall’s fixed costs are ₹364. Each clay diya costs ₹17 to make and sells for ₹30. How many must be sold to break even?
  17. 17.A stall’s fixed costs are ₹220 and each painted pebble makes ₹10 profit. Arjun sells 31. What is the profit after paying the fixed costs (in ₹)?
  18. 18.A stall’s fixed costs are ₹300. Each cup of lemonade costs ₹7 to make and sells for ₹17. How many must be sold to break even?
  19. 19.Which of these is a running cost? (a) a price board (b) card paper (c) a cash box (d) a cloth banner
  20. 20.One fruit cup costs ₹50 to make. Vihaan adds a 50% markup. What is the selling price (in ₹)?
  21. 21.One bag of popcorn costs ₹30 to make and Ishaan sells it for ₹36. What is the markup in percent?
  22. 22.It costs ₹28 to make one jute bag. On the last day Dev sells it for only ₹26. How much is the loss on one (in ₹)?
  23. 23.A small family shop borrows ₹300 from a bank at 5% simple interest per year. How much must it pay back in all after 3 years (in ₹)?
  24. 24.One cup of lemonade costs ₹24 to make. Arjun adds a 50% markup. What is the selling price (in ₹)?
  25. 25.A batch of 50 glasses of chai costs ₹450 to make. Aarav sells each one for ₹17. What is the profit on each one (in ₹)?
  26. 26.One painted pebble costs ₹42 to make. Kabir adds a 50% markup. What is the profit on one (in ₹)?
  27. 27.A small family shop borrows ₹400 from a bank at 10% simple interest per year. How much must it pay back in all after 3 years (in ₹)?
  28. 28.Which of these is saving? (a) a cinema ticket (b) buying a second juicer (c) an emergency fund (d) a new video game
  29. 29.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  30. 30.A batch of 50 fruit cups costs ₹600 to make. What does one cost to make (in ₹)?
  31. 31.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  32. 32.One handmade card costs ₹45 to make. Diya adds a 20% markup. What is the selling price (in ₹)?
  33. 33.True or false: “a juicer” is a one-time cost. (a) False (b) True
  34. 34.Which of these is saving? (a) a piggy bank for later (b) a new video game (c) a cinema ticket (d) better paint for cards
  35. 35.One cupcake costs ₹20 to make and Rohan sells it for ₹22. What is the markup in percent?
  36. 36.📈 When is there a profit? (a) SP less than CP (b) SP equal to CP (c) SP more than CP (d) never
  37. 37.Saanvi’s stall budget is ₹750. Lemons cost ₹80, ribbon cost ₹240 and seeds cost ₹230. How many rupees of the budget are left?
  38. 38.🤔 Besides cost, what should a price think about? (a) the weather only (b) what buyers will pay (c) your favourite number (d) nothing else
  39. 39.🏷️ Cost-plus pricing means… (a) cost + a markup (b) guess any price (c) cost − a markup (d) copy a rival
  40. 40.Dev pays ₹44 for a table and a banner (fixed costs). Each fruit cup sold makes ₹4 profit. How many must be sold to break even?

Answer key

  1. a one-time cost
  2. adds profit
  3. True
  4. 100
  5. Loss
  6. cost price
  7. 20
  8. SP less than CP
  9. 540
  10. a one-time cost
  11. 91
  12. 32
  13. 12
  14. what the buyer pays
  15. 30
  16. 28
  17. 90
  18. 30
  19. card paper
  20. 75
  21. 20
  22. 2
  23. 345
  24. 36
  25. 8
  26. 21
  27. 520
  28. an emergency fund
  29. cost price
  30. 12
  31. selling price
  32. 54
  33. True
  34. a piggy bank for later
  35. 10
  36. SP more than CP
  37. 200
  38. what buyers will pay
  39. cost + a markup
  40. 11

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