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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 206 · 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.🏷️ Cost price means… (a) the profit (b) what it cost you (c) the discount (d) what the buyer pays
  2. 2.📈 When is there a profit? (a) SP more than CP (b) never (c) SP equal to CP (d) SP less than CP
  3. 3.💵 Selling price means… (a) what it cost you (b) what the buyer pays (c) the loss (d) the stall fee
  4. 4.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  5. 5.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  6. 6.It costs ₹6 to make one painted pebble. Ishaan sells it for ₹7. What is the profit on one (in ₹)?
  7. 7.True or false: “money spent to get it” is the cost price. (a) False (b) True
  8. 8.True or false: “cost of making one” is the selling price. (a) True (b) False
  9. 9.True or false: “what you paid for it” is the cost price. (a) True (b) False
  10. 10.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  11. 11.One painted pebble costs ₹52 to make. Kavya wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  12. 12.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  13. 13.One potted plant costs ₹40 to make. Gurpreet wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  14. 14.One clay diya costs Saanvi ₹30 to make and sells for ₹37. Is that a profit or a loss? (a) Profit (b) Loss
  15. 15.It costs ₹34 to make one paper bookmark. On the last day Rohan sells it for only ₹25. How much is the loss on one (in ₹)?
  16. 16.Aarav makes 8 paper bookmarks at a cost of ₹38 each and sells all of them at ₹48 each. What is the total profit (in ₹)?
  17. 17.📉 When is there a loss? (a) always (b) SP more than CP (c) SP equal to CP (d) SP less than CP
  18. 18.It costs ₹65 to make one clay diya. On the last day Kabir sells it for only ₹59. How much is the loss on one (in ₹)?
  19. 19.Dev makes 21 friendship bands at a cost of ₹15 each and sells all of them at ₹17 each. What is the total profit (in ₹)?
  20. 20.It costs ₹21 to make one clay diya. On the last day Rohan sells it for only ₹11. How much is the loss on one (in ₹)?
  21. 21.True or false: “cost of making one” is the cost price. (a) True (b) False
  22. 22.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  23. 23.It costs ₹64 to make one cup of lemonade. On the last day Tara sells it for only ₹58. How much is the loss on one (in ₹)?
  24. 24.True or false: “the price on your board” is the cost price. (a) False (b) True
  25. 25.True or false: “what you paid for it” is the selling price. (a) True (b) False
  26. 26.One jute bag costs Ishaan ₹25 to make and sells for ₹16. Is that a profit or a loss? (a) Loss (b) Profit
  27. 27.It costs ₹59 to make one jute bag. On the last day Kavya sells it for only ₹56. How much is the loss on one (in ₹)?
  28. 28.Kabir makes 7 painted pebbles at a cost of ₹7 each and sells all of them at ₹13 each. What is the total profit (in ₹)?
  29. 29.Gurpreet makes 25 cups of lemonade at a cost of ₹33 each and sells all of them at ₹37 each. What is the total profit (in ₹)?
  30. 30.One bag of popcorn costs Rohan ₹57 to make and sells for ₹63. Is that a profit or a loss? (a) Loss (b) Profit
  31. 31.One cupcake costs ₹57 to make. Saanvi wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  32. 32.True or false: “the price on your board” is the selling price. (a) False (b) True
  33. 33.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  34. 34.True or false: “what a customer pays” is the cost price. (a) True (b) False
  35. 35.It costs ₹16 to make one paper bookmark. On the last day Gurpreet sells it for only ₹15. How much is the loss on one (in ₹)?
  36. 36.One paper bookmark costs ₹39 to make. Arjun wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  37. 37.It costs ₹11 to make one cup of lemonade. Arjun sells it for ₹22. What is the profit on one (in ₹)?
  38. 38.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  39. 39.True or false: “money got from a sale” is the cost price. (a) False (b) True
  40. 40.True or false: “the price you sell at” is the cost price. (a) True (b) False

Answer key

  1. what it cost you
  2. SP more than CP
  3. what the buyer pays
  4. True
  5. selling price
  6. 1
  7. True
  8. False
  9. True
  10. cost price
  11. 65
  12. selling price
  13. 42
  14. Profit
  15. 9
  16. 80
  17. SP less than CP
  18. 6
  19. 42
  20. 10
  21. True
  22. cost price
  23. 6
  24. False
  25. False
  26. Loss
  27. 3
  28. 42
  29. 100
  30. Profit
  31. 68
  32. True
  33. selling price
  34. False
  35. 1
  36. 47
  37. 11
  38. selling price
  39. False
  40. False

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