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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 197 · 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: “what you paid for it” is the selling price. (a) True (b) False
  2. 2.True or false: “what you paid for it” is the cost price. (a) False (b) True
  3. 3.One fruit cup costs Rohan ₹40 to make and sells for ₹31. Is that a profit or a loss? (a) Loss (b) Profit
  4. 4.True or false: “the price on your board” is the selling price. (a) False (b) True
  5. 5.True or false: “cost of making one” is the cost price. (a) True (b) False
  6. 6.📉 When is there a loss? (a) SP less than CP (b) always (c) SP equal to CP (d) SP more than CP
  7. 7.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  8. 8.One cupcake costs Rohan ₹18 to make and sells for ₹23. Is that a profit or a loss? (a) Loss (b) Profit
  9. 9.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  10. 10.It costs ₹10 to make one potted plant. Farhan sells it for ₹26. What is the profit on one (in ₹)?
  11. 11.💵 Selling price means… (a) the loss (b) what the buyer pays (c) the stall fee (d) what it cost you
  12. 12.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  13. 13.One paper bookmark costs ₹17 to make. Riya wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  14. 14.True or false: “what a customer pays” is the cost price. (a) False (b) True
  15. 15.🏷️ Cost price means… (a) what it cost you (b) the profit (c) the discount (d) what the buyer pays
  16. 16.Tara makes 24 friendship bands at a cost of ₹15 each and sells all of them at ₹29 each. What is the total profit (in ₹)?
  17. 17.True or false: “money spent to get it” is the selling price. (a) False (b) True
  18. 18.📈 When is there a profit? (a) SP less than CP (b) SP more than CP (c) never (d) SP equal to CP
  19. 19.One handmade card costs Gurpreet ₹49 to make and sells for ₹34. Is that a profit or a loss? (a) Profit (b) Loss
  20. 20.It costs ₹57 to make one bag of popcorn. Saanvi sells it for ₹66. What is the profit on one (in ₹)?
  21. 21.It costs ₹32 to make one handmade card. Lakshmi sells it for ₹45. What is the profit on one (in ₹)?
  22. 22.True or false: “the price you sell at” is the selling price. (a) False (b) True
  23. 23.One cup of lemonade costs Meera ₹27 to make and sells for ₹42. Is that a profit or a loss? (a) Profit (b) Loss
  24. 24.True or false: “cost of making one” is the selling price. (a) True (b) False
  25. 25.It costs ₹29 to make one paper bookmark. Riya sells it for ₹31. What is the profit on one (in ₹)?
  26. 26.One fruit cup costs ₹19 to make. Arjun wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  27. 27.One cupcake costs ₹20 to make. Zoya wants a profit of ₹10 on each. What should the selling price be (in ₹)?
  28. 28.Dev makes 23 bags of popcorn at a cost of ₹18 each and sells all of them at ₹30 each. What is the total profit (in ₹)?
  29. 29.Riya makes 6 handmade cards at a cost of ₹30 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  30. 30.True or false: “what a customer pays” is the selling price. (a) False (b) True
  31. 31.It costs ₹48 to make one fruit cup. On the last day Farhan sells it for only ₹47. How much is the loss on one (in ₹)?
  32. 32.It costs ₹58 to make one paper bookmark. On the last day Tara sells it for only ₹50. How much is the loss on one (in ₹)?
  33. 33.Aarav makes 17 clay diyas at a cost of ₹5 each and sells all of them at ₹11 each. What is the total profit (in ₹)?
  34. 34.True or false: “the price you sell at” is the cost price. (a) False (b) True
  35. 35.It costs ₹53 to make one glass of chai. Gurpreet sells it for ₹62. What is the profit on one (in ₹)?
  36. 36.It costs ₹49 to make one painted pebble. On the last day Lakshmi sells it for only ₹40. How much is the loss on one (in ₹)?
  37. 37.True or false: “money got from a sale” is the cost price. (a) False (b) True
  38. 38.One handmade card costs Arjun ₹28 to make and sells for ₹27. Is that a profit or a loss? (a) Profit (b) Loss
  39. 39.It costs ₹23 to make one clay diya. On the last day Gurpreet sells it for only ₹14. How much is the loss on one (in ₹)?
  40. 40.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price

Answer key

  1. False
  2. True
  3. Loss
  4. True
  5. True
  6. SP less than CP
  7. False
  8. Profit
  9. cost price
  10. 16
  11. what the buyer pays
  12. cost price
  13. 21
  14. False
  15. what it cost you
  16. 336
  17. False
  18. SP more than CP
  19. Loss
  20. 9
  21. 13
  22. True
  23. Profit
  24. False
  25. 2
  26. 20
  27. 30
  28. 276
  29. 54
  30. True
  31. 1
  32. 8
  33. 102
  34. False
  35. 9
  36. 9
  37. False
  38. Loss
  39. 9
  40. selling price

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