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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 191 · 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.

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  1. 1.🏷️ Cost price means… (a) the profit (b) what it cost you (c) the discount (d) what the buyer pays
  2. 2.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  3. 3.One cup of lemonade costs Meera ₹54 to make and sells for ₹41. Is that a profit or a loss? (a) Loss (b) Profit
  4. 4.It costs ₹42 to make one handmade card. On the last day Lakshmi sells it for only ₹39. How much is the loss on one (in ₹)?
  5. 5.One painted pebble costs Kavya ₹30 to make and sells for ₹20. Is that a profit or a loss? (a) Profit (b) Loss
  6. 6.💵 Selling price means… (a) the stall fee (b) what the buyer pays (c) the loss (d) what it cost you
  7. 7.One glass of chai costs ₹44 to make. Diya wants a profit of ₹10 on each. What should the selling price be (in ₹)?
  8. 8.True or false: “what a customer pays” is the cost price. (a) True (b) False
  9. 9.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  10. 10.True or false: “the price on your board” is the cost price. (a) True (b) False
  11. 11.It costs ₹49 to make one glass of chai. Ananya sells it for ₹54. What is the profit on one (in ₹)?
  12. 12.True or false: “money got from a sale” is the cost price. (a) True (b) False
  13. 13.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) never
  14. 14.One friendship band costs Diya ₹19 to make and sells for ₹4. Is that a profit or a loss? (a) Loss (b) Profit
  15. 15.It costs ₹25 to make one cup of lemonade. Ishaan sells it for ₹34. What is the profit on one (in ₹)?
  16. 16.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  17. 17.True or false: “money spent to get it” is the selling price. (a) True (b) False
  18. 18.Lakshmi makes 27 potted plants at a cost of ₹29 each and sells all of them at ₹41 each. What is the total profit (in ₹)?
  19. 19.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  20. 20.It costs ₹44 to make one clay diya. On the last day Nisha sells it for only ₹37. How much is the loss on one (in ₹)?
  21. 21.It costs ₹10 to make one cupcake. Ishaan sells it for ₹13. What is the profit on one (in ₹)?
  22. 22.It costs ₹52 to make one clay diya. On the last day Nisha sells it for only ₹51. How much is the loss on one (in ₹)?
  23. 23.True or false: “what a customer pays” is the selling price. (a) True (b) False
  24. 24.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  25. 25.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  26. 26.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  27. 27.It costs ₹21 to make one potted plant. Ananya sells it for ₹24. What is the profit on one (in ₹)?
  28. 28.One painted pebble costs Lakshmi ₹29 to make and sells for ₹38. Is that a profit or a loss? (a) Profit (b) Loss
  29. 29.True or false: “money got from a sale” is the selling price. (a) False (b) True
  30. 30.One clay diya costs ₹16 to make. Kabir wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  31. 31.True or false: “what you paid for it” is the selling price. (a) True (b) False
  32. 32.Meera makes 16 glasses of chai at a cost of ₹24 each and sells all of them at ₹37 each. What is the total profit (in ₹)?
  33. 33.It costs ₹10 to make one bag of popcorn. Meera sells it for ₹28. What is the profit on one (in ₹)?
  34. 34.It costs ₹11 to make one cup of lemonade. Saanvi sells it for ₹16. What is the profit on one (in ₹)?
  35. 35.True or false: “cost of making one” is the cost price. (a) False (b) True
  36. 36.It costs ₹5 to make one paper bookmark. Vihaan sells it for ₹17. What is the profit on one (in ₹)?
  37. 37.It costs ₹9 to make one cup of lemonade. Nisha sells it for ₹20. What is the profit on one (in ₹)?
  38. 38.It costs ₹21 to make one friendship band. Joseph sells it for ₹22. What is the profit on one (in ₹)?
  39. 39.It costs ₹21 to make one glass of chai. Meera sells it for ₹41. What is the profit on one (in ₹)?
  40. 40.Rohan makes 24 paper bookmarks at a cost of ₹22 each and sells all of them at ₹31 each. What is the total profit (in ₹)?

Answer key

  1. what it cost you
  2. cost price
  3. Loss
  4. 3
  5. Loss
  6. what the buyer pays
  7. 54
  8. False
  9. cost price
  10. False
  11. 5
  12. False
  13. SP more than CP
  14. Loss
  15. 9
  16. selling price
  17. False
  18. 324
  19. False
  20. 7
  21. 3
  22. 1
  23. True
  24. cost price
  25. selling price
  26. True
  27. 3
  28. Profit
  29. True
  30. 20
  31. False
  32. 208
  33. 18
  34. 5
  35. True
  36. 12
  37. 11
  38. 1
  39. 20
  40. 216

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