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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 34 · 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) the discount (c) what the buyer pays (d) what it cost you
  2. 2.Kabir makes 7 handmade cards at a cost of ₹32 each and sells all of them at ₹46 each. What is the total profit (in ₹)?
  3. 3.True or false: “the price on your board” is the cost price. (a) False (b) True
  4. 4.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  5. 5.It costs ₹53 to make one cup of lemonade. Tara sells it for ₹59. What is the profit on one (in ₹)?
  6. 6.Aarav makes 8 glasses of chai at a cost of ₹8 each and sells all of them at ₹9 each. What is the total profit (in ₹)?
  7. 7.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  8. 8.It costs ₹50 to make one handmade card. Saanvi sells it for ₹61. What is the profit on one (in ₹)?
  9. 9.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  10. 10.True or false: “what you paid for it” is the selling price. (a) True (b) False
  11. 11.One potted plant costs Diya ₹28 to make and sells for ₹33. Is that a profit or a loss? (a) Profit (b) Loss
  12. 12.One potted plant costs Joseph ₹35 to make and sells for ₹39. Is that a profit or a loss? (a) Profit (b) Loss
  13. 13.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  14. 14.One cup of lemonade costs Gurpreet ₹55 to make and sells for ₹66. Is that a profit or a loss? (a) Loss (b) Profit
  15. 15.One bag of popcorn costs ₹16 to make. Aarav wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  16. 16.One jute bag costs ₹51 to make. Gurpreet wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  17. 17.True or false: “cost of making one” is the cost price. (a) False (b) True
  18. 18.True or false: “what a customer pays” is the cost 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.📈 When is there a profit? (a) SP equal to CP (b) SP less than CP (c) never (d) SP more than CP
  21. 21.It costs ₹33 to make one cupcake. On the last day Rohan sells it for only ₹26. How much is the loss on one (in ₹)?
  22. 22.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  23. 23.One glass of chai costs Riya ₹16 to make and sells for ₹14. Is that a profit or a loss? (a) Loss (b) Profit
  24. 24.It costs ₹50 to make one handmade card. On the last day Joseph sells it for only ₹48. How much is the loss on one (in ₹)?
  25. 25.One cup of lemonade costs ₹29 to make. Zoya wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  26. 26.True or false: “cost of making one” is the selling price. (a) True (b) False
  27. 27.One handmade card costs ₹28 to make. Joseph wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  28. 28.It costs ₹17 to make one paper bookmark. On the last day Nisha sells it for only ₹11. How much is the loss on one (in ₹)?
  29. 29.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  30. 30.It costs ₹13 to make one cup of lemonade. Vihaan sells it for ₹15. What is the profit on one (in ₹)?
  31. 31.💵 Selling price means… (a) what it cost you (b) what the buyer pays (c) the loss (d) the stall fee
  32. 32.True or false: “the price you sell at” is the cost price. (a) False (b) True
  33. 33.It costs ₹17 to make one clay diya. On the last day Farhan sells it for only ₹9. How much is the loss on one (in ₹)?
  34. 34.True or false: “money spent to get it” is the selling price. (a) True (b) False
  35. 35.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  36. 36.One cup of lemonade costs Tara ₹50 to make and sells for ₹49. Is that a profit or a loss? (a) Profit (b) Loss
  37. 37.True or false: “what a customer pays” is the selling price. (a) False (b) True
  38. 38.It costs ₹10 to make one handmade card. On the last day Dev sells it for only ₹9. How much is the loss on one (in ₹)?
  39. 39.It costs ₹21 to make one handmade card. Ananya sells it for ₹27. What is the profit on one (in ₹)?
  40. 40.True or false: “money got from a sale” is the cost price. (a) False (b) True

Answer key

  1. what it cost you
  2. 98
  3. False
  4. False
  5. 6
  6. 8
  7. selling price
  8. 11
  9. selling price
  10. False
  11. Profit
  12. Profit
  13. cost price
  14. Profit
  15. 33
  16. 56
  17. True
  18. False
  19. True
  20. SP more than CP
  21. 7
  22. cost price
  23. Loss
  24. 2
  25. 31
  26. False
  27. 33
  28. 6
  29. selling price
  30. 2
  31. what the buyer pays
  32. False
  33. 8
  34. False
  35. cost price
  36. Loss
  37. True
  38. 1
  39. 6
  40. False

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