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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 301 · 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: “the price on your board” is the cost price. (a) True (b) False
  2. 2.It costs ₹23 to make one potted plant. Diya sells it for ₹38. What is the profit on one (in ₹)?
  3. 3.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  4. 4.True or false: “what you paid for it” is the cost price. (a) False (b) True
  5. 5.One clay diya costs Saanvi ₹41 to make and sells for ₹56. Is that a profit or a loss? (a) Loss (b) Profit
  6. 6.Zoya makes 7 fruit cups at a cost of ₹12 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  7. 7.Tara makes 14 cups of lemonade at a cost of ₹19 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  8. 8.One paper bookmark costs Ishaan ₹27 to make and sells for ₹15. Is that a profit or a loss? (a) Profit (b) Loss
  9. 9.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  10. 10.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  11. 11.True or false: “the price on your board” is the selling price. (a) True (b) False
  12. 12.One glass of chai costs Meera ₹59 to make and sells for ₹61. Is that a profit or a loss? (a) Loss (b) Profit
  13. 13.📈 When is there a profit? (a) SP more than CP (b) never (c) SP equal to CP (d) SP less than CP
  14. 14.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  15. 15.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  16. 16.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  17. 17.True or false: “the price you sell at” is the selling price. (a) True (b) False
  18. 18.It costs ₹32 to make one cup of lemonade. On the last day Tara sells it for only ₹22. How much is the loss on one (in ₹)?
  19. 19.It costs ₹48 to make one handmade card. On the last day Kabir sells it for only ₹38. How much is the loss on one (in ₹)?
  20. 20.It costs ₹29 to make one jute bag. On the last day Tara sells it for only ₹26. How much is the loss on one (in ₹)?
  21. 21.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  22. 22.True or false: “cost of making one” is the cost price. (a) False (b) True
  23. 23.💵 Selling price means… (a) what it cost you (b) the loss (c) the stall fee (d) what the buyer pays
  24. 24.🏷️ Cost price means… (a) the profit (b) the discount (c) what the buyer pays (d) what it cost you
  25. 25.True or false: “what you paid for it” is the selling price. (a) True (b) False
  26. 26.It costs ₹33 to make one cup of lemonade. On the last day Joseph sells it for only ₹29. How much is the loss on one (in ₹)?
  27. 27.True or false: “money got from a sale” is the selling price. (a) False (b) True
  28. 28.One handmade card costs Diya ₹19 to make and sells for ₹27. Is that a profit or a loss? (a) Loss (b) Profit
  29. 29.It costs ₹34 to make one handmade card. On the last day Ananya sells it for only ₹24. How much is the loss on one (in ₹)?
  30. 30.It costs ₹16 to make one painted pebble. On the last day Diya sells it for only ₹13. How much is the loss on one (in ₹)?
  31. 31.True or false: “money spent to get it” is the selling price. (a) False (b) True
  32. 32.It costs ₹29 to make one cupcake. Meera sells it for ₹40. What is the profit on one (in ₹)?
  33. 33.Kabir makes 25 clay diyas at a cost of ₹14 each and sells all of them at ₹15 each. What is the total profit (in ₹)?
  34. 34.It costs ₹36 to make one clay diya. Tara sells it for ₹55. What is the profit on one (in ₹)?
  35. 35.True or false: “what a customer pays” is the cost price. (a) True (b) False
  36. 36.Farhan makes 7 potted plants at a cost of ₹39 each and sells all of them at ₹52 each. What is the total profit (in ₹)?
  37. 37.It costs ₹44 to make one glass of chai. On the last day Ishaan sells it for only ₹43. How much is the loss on one (in ₹)?
  38. 38.True or false: “money got from a sale” is the cost price. (a) True (b) False
  39. 39.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  40. 40.True or false: “cost of making one” is the selling price. (a) False (b) True

Answer key

  1. False
  2. 15
  3. cost price
  4. True
  5. Profit
  6. 56
  7. 14
  8. Loss
  9. selling price
  10. cost price
  11. True
  12. Profit
  13. SP more than CP
  14. cost price
  15. selling price
  16. selling price
  17. True
  18. 10
  19. 10
  20. 3
  21. selling price
  22. True
  23. what the buyer pays
  24. what it cost you
  25. False
  26. 4
  27. True
  28. Profit
  29. 10
  30. 3
  31. False
  32. 11
  33. 25
  34. 19
  35. False
  36. 91
  37. 1
  38. False
  39. False
  40. False

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