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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 103 · 40 questions
TalentJR

Business tip (SP minus CP): Profit = selling price − cost price (when SP is more than CP). Loss = cost price − selling price (when SP is less than CP) — we always say “a loss of ₹…”, never a minus sign. Total profit = profit on one × number sold. Selling price needed = cost + profit wanted.

NameDateTime takenScore ___ / 40
  1. 1.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  2. 2.True or false: “money spent to get it” is the cost price. (a) False (b) True
  3. 3.One friendship band costs ₹41 to make. Farhan wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  4. 4.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  5. 5.True or false: “the price you sell at” is the selling price. (a) False (b) True
  6. 6.It costs ₹6 to make one cup of lemonade. Ishaan sells it for ₹16. What is the profit on one (in ₹)?
  7. 7.One fruit cup costs ₹57 to make. Ishaan wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  8. 8.It costs ₹53 to make one paper bookmark. On the last day Gurpreet sells it for only ₹52. How much is the loss on one (in ₹)?
  9. 9.📉 When is there a loss? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) always
  10. 10.💵 Selling price means… (a) the stall fee (b) the loss (c) what the buyer pays (d) what it cost you
  11. 11.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  12. 12.True or false: “what a customer pays” is the selling price. (a) True (b) False
  13. 13.True or false: “money got from a sale” is the selling price. (a) False (b) True
  14. 14.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  15. 15.True or false: “what you paid for it” is the selling price. (a) True (b) False
  16. 16.One bag of popcorn costs Zoya ₹34 to make and sells for ₹31. Is that a profit or a loss? (a) Profit (b) Loss
  17. 17.It costs ₹38 to make one clay diya. On the last day Ananya sells it for only ₹31. How much is the loss on one (in ₹)?
  18. 18.One painted pebble costs ₹7 to make. Joseph wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  19. 19.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  20. 20.It costs ₹25 to make one handmade card. Meera sells it for ₹28. What is the profit on one (in ₹)?
  21. 21.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  22. 22.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  23. 23.It costs ₹11 to make one cupcake. On the last day Lakshmi sells it for only ₹5. How much is the loss on one (in ₹)?
  24. 24.True or false: “money spent to get it” is the selling price. (a) True (b) False
  25. 25.One painted pebble costs Farhan ₹31 to make and sells for ₹26. Is that a profit or a loss? (a) Loss (b) Profit
  26. 26.It costs ₹49 to make one friendship band. On the last day Lakshmi sells it for only ₹45. How much is the loss on one (in ₹)?
  27. 27.One fruit cup costs ₹52 to make. Zoya wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  28. 28.True or false: “what you paid for it” is the cost price. (a) True (b) False
  29. 29.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  30. 30.It costs ₹48 to make one clay diya. Joseph sells it for ₹64. What is the profit on one (in ₹)?
  31. 31.One potted plant costs Arjun ₹59 to make and sells for ₹52. Is that a profit or a loss? (a) Loss (b) Profit
  32. 32.It costs ₹48 to make one potted plant. Dev sells it for ₹53. What is the profit on one (in ₹)?
  33. 33.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  34. 34.Aarav makes 24 potted plants at a cost of ₹9 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  35. 35.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) never
  36. 36.It costs ₹27 to make one bag of popcorn. Kavya sells it for ₹42. What is the profit on one (in ₹)?
  37. 37.True or false: “money got from a sale” is the cost price. (a) True (b) False
  38. 38.True or false: “the price on your board” is the cost price. (a) True (b) False
  39. 39.True or false: “the price you sell at” is the cost price. (a) False (b) True
  40. 40.It costs ₹21 to make one glass of chai. On the last day Vihaan sells it for only ₹20. How much is the loss on one (in ₹)?

Answer key

  1. False
  2. True
  3. 42
  4. selling price
  5. True
  6. 10
  7. 65
  8. 1
  9. SP less than CP
  10. what the buyer pays
  11. selling price
  12. True
  13. True
  14. selling price
  15. False
  16. Loss
  17. 7
  18. 19
  19. True
  20. 3
  21. cost price
  22. selling price
  23. 6
  24. False
  25. Loss
  26. 4
  27. 72
  28. True
  29. cost price
  30. 16
  31. Loss
  32. 5
  33. cost price
  34. 288
  35. SP more than CP
  36. 15
  37. False
  38. False
  39. False
  40. 1

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