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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 251 · 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 or selling price: money spent to get it? (a) selling price (b) cost price
  2. 2.It costs ₹23 to make one jute bag. Aarav sells it for ₹26. What is the profit on one (in ₹)?
  3. 3.True or false: “what a customer pays” is the selling price. (a) True (b) False
  4. 4.It costs ₹50 to make one painted pebble. Tara sells it for ₹54. What is the profit on one (in ₹)?
  5. 5.True or false: “the price you sell at” is the selling price. (a) True (b) False
  6. 6.💵 Selling price means… (a) what the buyer pays (b) what it cost you (c) the loss (d) the stall fee
  7. 7.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  8. 8.📉 When is there a loss? (a) SP less than CP (b) SP equal to CP (c) SP more than CP (d) always
  9. 9.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) never
  10. 10.It costs ₹31 to make one glass of chai. On the last day Farhan sells it for only ₹30. How much is the loss on one (in ₹)?
  11. 11.It costs ₹10 to make one friendship band. Ishaan sells it for ₹28. What is the profit on one (in ₹)?
  12. 12.True or false: “the price on your board” is the selling price. (a) True (b) False
  13. 13.One glass of chai costs Saanvi ₹51 to make and sells for ₹63. Is that a profit or a loss? (a) Loss (b) Profit
  14. 14.One painted pebble costs Zoya ₹24 to make and sells for ₹21. Is that a profit or a loss? (a) Loss (b) Profit
  15. 15.True or false: “money got from a sale” is the cost price. (a) True (b) False
  16. 16.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  17. 17.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  18. 18.True or false: “what you paid for it” is the selling price. (a) False (b) True
  19. 19.It costs ₹14 to make one bag of popcorn. Nisha sells it for ₹20. What is the profit on one (in ₹)?
  20. 20.It costs ₹37 to make one bag of popcorn. On the last day Ananya sells it for only ₹32. How much is the loss on one (in ₹)?
  21. 21.Nisha makes 9 friendship bands at a cost of ₹18 each and sells all of them at ₹28 each. What is the total profit (in ₹)?
  22. 22.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  23. 23.One cupcake costs Farhan ₹50 to make and sells for ₹63. Is that a profit or a loss? (a) Profit (b) Loss
  24. 24.🏷️ Cost price means… (a) the discount (b) what the buyer pays (c) the profit (d) what it cost you
  25. 25.It costs ₹41 to make one cupcake. On the last day Aarav sells it for only ₹37. How much is the loss on one (in ₹)?
  26. 26.One jute bag costs Saanvi ₹54 to make and sells for ₹42. Is that a profit or a loss? (a) Profit (b) Loss
  27. 27.One painted pebble costs Tara ₹30 to make and sells for ₹43. Is that a profit or a loss? (a) Loss (b) Profit
  28. 28.It costs ₹16 to make one clay diya. On the last day Ananya sells it for only ₹7. How much is the loss on one (in ₹)?
  29. 29.Kabir makes 20 handmade cards at a cost of ₹32 each and sells all of them at ₹38 each. What is the total profit (in ₹)?
  30. 30.It costs ₹27 to make one painted pebble. Joseph sells it for ₹40. What is the profit on one (in ₹)?
  31. 31.One handmade card costs Joseph ₹35 to make and sells for ₹44. Is that a profit or a loss? (a) Profit (b) Loss
  32. 32.True or false: “money spent to get it” is the selling price. (a) False (b) True
  33. 33.One cupcake costs ₹12 to make. Joseph wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  34. 34.One friendship band costs ₹24 to make. Meera wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  35. 35.True or false: “what you paid for it” is the cost price. (a) True (b) False
  36. 36.One clay diya costs ₹9 to make. Kavya wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  37. 37.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  38. 38.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  39. 39.It costs ₹25 to make one bag of popcorn. On the last day Kavya sells it for only ₹23. How much is the loss on one (in ₹)?
  40. 40.One handmade card costs ₹50 to make. Lakshmi wants a profit of ₹10 on each. What should the selling price be (in ₹)?

Answer key

  1. cost price
  2. 3
  3. True
  4. 4
  5. True
  6. what the buyer pays
  7. selling price
  8. SP less than CP
  9. SP more than CP
  10. 1
  11. 18
  12. True
  13. Profit
  14. Loss
  15. False
  16. True
  17. cost price
  18. False
  19. 6
  20. 5
  21. 90
  22. cost price
  23. Profit
  24. what it cost you
  25. 4
  26. Loss
  27. Profit
  28. 9
  29. 120
  30. 13
  31. Profit
  32. False
  33. 25
  34. 29
  35. True
  36. 23
  37. False
  38. selling price
  39. 2
  40. 60

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