← Cost price, selling price, profit and loss lesson New set →

Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 142 · 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: “cost of making one” is the cost price. (a) False (b) True
  2. 2.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  3. 3.True or false: “the price on your board” is the cost price. (a) False (b) True
  4. 4.It costs ₹60 to make one handmade card. On the last day Diya sells it for only ₹59. How much is the loss on one (in ₹)?
  5. 5.Diya makes 17 handmade cards at a cost of ₹12 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  6. 6.It costs ₹44 to make one glass of chai. On the last day Meera sells it for only ₹36. How much is the loss on one (in ₹)?
  7. 7.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  8. 8.True or false: “money spent to get it” is the cost price. (a) False (b) True
  9. 9.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  10. 10.It costs ₹25 to make one handmade card. Meera sells it for ₹28. What is the profit on one (in ₹)?
  11. 11.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  12. 12.📉 When is there a loss? (a) SP more than CP (b) SP equal to CP (c) always (d) SP less than CP
  13. 13.True or false: “cost of making one” is the selling price. (a) True (b) False
  14. 14.True or false: “money got from a sale” is the selling price. (a) True (b) False
  15. 15.One cup of lemonade costs Aarav ₹59 to make and sells for ₹56. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.🏷️ Cost price means… (a) what the buyer pays (b) the discount (c) the profit (d) what it cost you
  17. 17.True or false: “what a customer pays” is the cost price. (a) False (b) True
  18. 18.It costs ₹46 to make one painted pebble. Arjun sells it for ₹63. What is the profit on one (in ₹)?
  19. 19.One cupcake costs Ananya ₹48 to make and sells for ₹59. Is that a profit or a loss? (a) Profit (b) Loss
  20. 20.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  21. 21.Lakshmi makes 24 friendship bands at a cost of ₹6 each and sells all of them at ₹11 each. What is the total profit (in ₹)?
  22. 22.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  23. 23.Arjun makes 8 bags of popcorn at a cost of ₹23 each and sells all of them at ₹25 each. What is the total profit (in ₹)?
  24. 24.True or false: “the price you sell at” is the selling price. (a) True (b) False
  25. 25.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  26. 26.It costs ₹64 to make one paper bookmark. On the last day Ananya sells it for only ₹56. How much is the loss on one (in ₹)?
  27. 27.One paper bookmark costs ₹29 to make. Diya wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  28. 28.One glass of chai costs ₹43 to make. Kavya wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  29. 29.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  30. 30.It costs ₹59 to make one handmade card. Saanvi sells it for ₹60. What is the profit on one (in ₹)?
  31. 31.One bag of popcorn costs ₹23 to make. Nisha wants a profit of ₹9 on each. What should the selling price be (in ₹)?
  32. 32.One jute bag costs ₹52 to make. Kabir wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  33. 33.One cupcake costs ₹40 to make. Joseph wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  34. 34.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) never
  35. 35.It costs ₹38 to make one paper bookmark. On the last day Meera sells it for only ₹34. How much is the loss on one (in ₹)?
  36. 36.It costs ₹13 to make one potted plant. Gurpreet sells it for ₹14. What is the profit on one (in ₹)?
  37. 37.Ananya makes 21 bags of popcorn at a cost of ₹30 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  38. 38.It costs ₹16 to make one handmade card. Rohan sells it for ₹21. What is the profit on one (in ₹)?
  39. 39.💵 Selling price means… (a) what the buyer pays (b) the loss (c) the stall fee (d) what it cost you
  40. 40.It costs ₹30 to make one jute bag. Nisha sells it for ₹44. What is the profit on one (in ₹)?

Answer key

  1. True
  2. selling price
  3. False
  4. 1
  5. 136
  6. 8
  7. True
  8. True
  9. selling price
  10. 3
  11. cost price
  12. SP less than CP
  13. False
  14. True
  15. Loss
  16. what it cost you
  17. False
  18. 17
  19. Profit
  20. cost price
  21. 120
  22. selling price
  23. 16
  24. True
  25. selling price
  26. 8
  27. 37
  28. 44
  29. cost price
  30. 1
  31. 32
  32. 55
  33. 52
  34. SP more than CP
  35. 4
  36. 1
  37. 84
  38. 5
  39. what the buyer pays
  40. 14

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids