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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 305 · 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 means… (a) what the buyer pays (b) the discount (c) the profit (d) what it cost you
  2. 2.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  3. 3.True or false: “the price you sell at” is the cost price. (a) False (b) True
  4. 4.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  5. 5.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  6. 6.One cupcake costs ₹23 to make. Diya wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  7. 7.It costs ₹33 to make one glass of chai. Arjun sells it for ₹44. What is the profit on one (in ₹)?
  8. 8.It costs ₹57 to make one fruit cup. On the last day Meera sells it for only ₹54. How much is the loss on one (in ₹)?
  9. 9.True or false: “money spent to get it” is the cost price. (a) True (b) False
  10. 10.True or false: “what you paid for it” is the selling price. (a) True (b) False
  11. 11.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  12. 12.Aarav makes 9 potted plants at a cost of ₹38 each and sells all of them at ₹44 each. What is the total profit (in ₹)?
  13. 13.True or false: “what you paid for it” is the cost price. (a) True (b) False
  14. 14.One glass of chai costs Diya ₹38 to make and sells for ₹26. Is that a profit or a loss? (a) Profit (b) Loss
  15. 15.One paper bookmark costs Ananya ₹29 to make and sells for ₹14. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  17. 17.It costs ₹22 to make one cup of lemonade. Rohan sells it for ₹27. What is the profit on one (in ₹)?
  18. 18.One friendship band costs Nisha ₹49 to make and sells for ₹52. Is that a profit or a loss? (a) Profit (b) Loss
  19. 19.💵 Selling price means… (a) the stall fee (b) the loss (c) what the buyer pays (d) what it cost you
  20. 20.📉 When is there a loss? (a) SP equal to CP (b) SP more than CP (c) always (d) SP less than CP
  21. 21.It costs ₹40 to make one fruit cup. On the last day Kavya sells it for only ₹33. How much is the loss on one (in ₹)?
  22. 22.One painted pebble costs Farhan ₹35 to make and sells for ₹38. Is that a profit or a loss? (a) Profit (b) Loss
  23. 23.It costs ₹16 to make one jute bag. On the last day Zoya sells it for only ₹14. How much is the loss on one (in ₹)?
  24. 24.True or false: “cost of making one” is the selling price. (a) False (b) True
  25. 25.It costs ₹16 to make one glass of chai. Meera sells it for ₹28. What is the profit on one (in ₹)?
  26. 26.True or false: “cost of making one” is the cost price. (a) True (b) False
  27. 27.One fruit cup costs ₹40 to make. Gurpreet wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  28. 28.One cup of lemonade costs Tara ₹59 to make and sells for ₹74. Is that a profit or a loss? (a) Loss (b) Profit
  29. 29.One handmade card costs ₹14 to make. Arjun wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  30. 30.True or false: “the price on your board” is the cost price. (a) True (b) False
  31. 31.📈 When is there a profit? (a) never (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  32. 32.One paper bookmark costs ₹9 to make. Zoya wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  33. 33.Kabir makes 12 glasses of chai at a cost of ₹10 each and sells all of them at ₹23 each. What is the total profit (in ₹)?
  34. 34.True or false: “money got from a sale” is the selling price. (a) False (b) True
  35. 35.It costs ₹44 to make one glass of chai. On the last day Meera sells it for only ₹41. How much is the loss on one (in ₹)?
  36. 36.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  37. 37.One painted pebble costs ₹51 to make. Rohan wants a profit of ₹19 on each. What should the selling price be (in ₹)?
  38. 38.True or false: “what a customer pays” is the selling price. (a) False (b) True
  39. 39.Kavya makes 12 cupcakes at a cost of ₹19 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  40. 40.Meera makes 19 clay diyas at a cost of ₹29 each and sells all of them at ₹39 each. What is the total profit (in ₹)?

Answer key

  1. what it cost you
  2. cost price
  3. False
  4. selling price
  5. cost price
  6. 34
  7. 11
  8. 3
  9. True
  10. False
  11. selling price
  12. 54
  13. True
  14. Loss
  15. Loss
  16. selling price
  17. 5
  18. Profit
  19. what the buyer pays
  20. SP less than CP
  21. 7
  22. Profit
  23. 2
  24. False
  25. 12
  26. True
  27. 60
  28. Profit
  29. 17
  30. False
  31. SP more than CP
  32. 17
  33. 156
  34. True
  35. 3
  36. False
  37. 70
  38. True
  39. 144
  40. 190

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