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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 218 · 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 or selling price: the price you sell at? (a) cost price (b) selling price
  2. 2.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  3. 3.📈 When is there a profit? (a) SP less than CP (b) SP equal to CP (c) never (d) SP more than CP
  4. 4.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  5. 5.Lakshmi makes 14 potted plants at a cost of ₹32 each and sells all of them at ₹36 each. What is the total profit (in ₹)?
  6. 6.It costs ₹12 to make one friendship band. Kabir sells it for ₹14. What is the profit on one (in ₹)?
  7. 7.Gurpreet makes 5 potted plants at a cost of ₹38 each and sells all of them at ₹50 each. What is the total profit (in ₹)?
  8. 8.🏷️ Cost price means… (a) the discount (b) what it cost you (c) what the buyer pays (d) the profit
  9. 9.True or false: “what a customer pays” is the selling price. (a) True (b) False
  10. 10.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  11. 11.Dev makes 28 fruit cups at a cost of ₹39 each and sells all of them at ₹52 each. What is the total profit (in ₹)?
  12. 12.One handmade card costs ₹50 to make. Lakshmi wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  13. 13.It costs ₹18 to make one handmade card. On the last day Gurpreet sells it for only ₹15. How much is the loss on one (in ₹)?
  14. 14.It costs ₹38 to make one cup of lemonade. Riya sells it for ₹51. What is the profit on one (in ₹)?
  15. 15.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  16. 16.True or false: “what you paid for it” is the cost price. (a) True (b) False
  17. 17.💵 Selling price means… (a) what the buyer pays (b) the loss (c) what it cost you (d) the stall fee
  18. 18.True or false: “what you paid for it” is the selling price. (a) False (b) True
  19. 19.True or false: “the price on your board” is the selling price. (a) False (b) True
  20. 20.It costs ₹25 to make one glass of chai. On the last day Ishaan sells it for only ₹21. How much is the loss on one (in ₹)?
  21. 21.One paper bookmark costs ₹58 to make. Ishaan wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  22. 22.One clay diya costs ₹32 to make. Dev wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  23. 23.True or false: “money spent to get it” is the cost price. (a) False (b) True
  24. 24.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  25. 25.One paper bookmark costs Rohan ₹48 to make and sells for ₹60. Is that a profit or a loss? (a) Profit (b) Loss
  26. 26.Meera makes 6 cupcakes at a cost of ₹24 each and sells all of them at ₹36 each. What is the total profit (in ₹)?
  27. 27.One paper bookmark costs ₹40 to make. Kavya wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  28. 28.One paper bookmark costs ₹60 to make. Kabir wants a profit of ₹10 on each. What should the selling price be (in ₹)?
  29. 29.Aarav makes 15 fruit cups at a cost of ₹32 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  30. 30.It costs ₹16 to make one bag of popcorn. Joseph sells it for ₹21. What is the profit on one (in ₹)?
  31. 31.One painted pebble costs ₹11 to make. Meera wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  32. 32.One bag of popcorn costs Kavya ₹39 to make and sells for ₹51. Is that a profit or a loss? (a) Profit (b) Loss
  33. 33.True or false: “cost of making one” is the cost price. (a) False (b) True
  34. 34.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  35. 35.True or false: “money got from a sale” is the cost price. (a) False (b) True
  36. 36.One cup of lemonade costs ₹55 to make. Rohan wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  37. 37.Lakshmi makes 19 potted plants at a cost of ₹25 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  38. 38.One handmade card costs Ishaan ₹36 to make and sells for ₹47. Is that a profit or a loss? (a) Loss (b) Profit
  39. 39.True or false: “cost of making one” is the selling price. (a) False (b) True
  40. 40.One potted plant costs Farhan ₹48 to make and sells for ₹42. Is that a profit or a loss? (a) Loss (b) Profit

Answer key

  1. selling price
  2. cost price
  3. SP more than CP
  4. cost price
  5. 56
  6. 2
  7. 60
  8. what it cost you
  9. True
  10. cost price
  11. 364
  12. 58
  13. 3
  14. 13
  15. selling price
  16. True
  17. what the buyer pays
  18. False
  19. True
  20. 4
  21. 75
  22. 38
  23. True
  24. True
  25. Profit
  26. 72
  27. 57
  28. 70
  29. 105
  30. 5
  31. 24
  32. Profit
  33. True
  34. selling price
  35. False
  36. 58
  37. 114
  38. Profit
  39. False
  40. Loss

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