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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 369 · 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.True or false: “what you paid for it” is the cost price. (a) True (b) False
  2. 2.Ishaan makes 7 handmade cards at a cost of ₹26 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  3. 3.True or false: “money spent to get it” is the cost price. (a) True (b) False
  4. 4.One clay diya costs Diya ₹38 to make and sells for ₹31. Is that a profit or a loss? (a) Profit (b) Loss
  5. 5.It costs ₹21 to make one potted plant. Saanvi sells it for ₹34. What is the profit on one (in ₹)?
  6. 6.📈 When is there a profit? (a) SP less than CP (b) SP more than CP (c) never (d) SP equal to CP
  7. 7.True or false: “money got from a sale” is the cost price. (a) False (b) True
  8. 8.💵 Selling price means… (a) the stall fee (b) what the buyer pays (c) the loss (d) what it cost you
  9. 9.📉 When is there a loss? (a) SP more than CP (b) SP less than CP (c) always (d) SP equal to CP
  10. 10.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  11. 11.One paper bookmark costs Kavya ₹53 to make and sells for ₹59. Is that a profit or a loss? (a) Profit (b) Loss
  12. 12.It costs ₹39 to make one cup of lemonade. Rohan sells it for ₹44. What is the profit on one (in ₹)?
  13. 13.It costs ₹51 to make one handmade card. Arjun sells it for ₹54. What is the profit on one (in ₹)?
  14. 14.One potted plant costs Arjun ₹21 to make and sells for ₹20. Is that a profit or a loss? (a) Profit (b) Loss
  15. 15.One jute bag costs ₹17 to make. Tara wants a profit of ₹19 on each. What should the selling price be (in ₹)?
  16. 16.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  17. 17.True or false: “cost of making one” is the selling price. (a) True (b) False
  18. 18.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  19. 19.True or false: “money got from a sale” is the selling price. (a) True (b) False
  20. 20.True or false: “what a customer pays” is the selling price. (a) True (b) False
  21. 21.One cupcake costs Farhan ₹20 to make and sells for ₹30. Is that a profit or a loss? (a) Profit (b) Loss
  22. 22.Ananya makes 22 fruit cups at a cost of ₹16 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  23. 23.One bag of popcorn costs Zoya ₹42 to make and sells for ₹28. Is that a profit or a loss? (a) Loss (b) Profit
  24. 24.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  25. 25.True or false: “what a customer pays” is the cost price. (a) True (b) False
  26. 26.True or false: “cost of making one” is the cost price. (a) True (b) False
  27. 27.It costs ₹17 to make one friendship band. On the last day Zoya sells it for only ₹16. How much is the loss on one (in ₹)?
  28. 28.One glass of chai costs Dev ₹47 to make and sells for ₹46. Is that a profit or a loss? (a) Profit (b) Loss
  29. 29.It costs ₹11 to make one clay diya. On the last day Kavya sells it for only ₹10. How much is the loss on one (in ₹)?
  30. 30.🏷️ Cost price means… (a) what the buyer pays (b) what it cost you (c) the discount (d) the profit
  31. 31.True or false: “the price you sell at” is the selling price. (a) False (b) True
  32. 32.It costs ₹33 to make one fruit cup. Ishaan sells it for ₹36. What is the profit on one (in ₹)?
  33. 33.It costs ₹10 to make one paper bookmark. On the last day Meera sells it for only ₹9. How much is the loss on one (in ₹)?
  34. 34.It costs ₹6 to make one friendship band. Lakshmi sells it for ₹20. What is the profit on one (in ₹)?
  35. 35.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  36. 36.One friendship band costs ₹56 to make. Tara wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  37. 37.True or false: “what you paid for it” is the selling price. (a) False (b) True
  38. 38.True or false: “money spent to get it” is the selling price. (a) True (b) False
  39. 39.Ishaan makes 26 potted plants at a cost of ₹18 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  40. 40.True or false: “the price on your board” is the selling price. (a) True (b) False

Answer key

  1. True
  2. 56
  3. True
  4. Loss
  5. 13
  6. SP more than CP
  7. False
  8. what the buyer pays
  9. SP less than CP
  10. cost price
  11. Profit
  12. 5
  13. 3
  14. Loss
  15. 36
  16. selling price
  17. False
  18. cost price
  19. True
  20. True
  21. Profit
  22. 330
  23. Loss
  24. cost price
  25. False
  26. True
  27. 1
  28. Loss
  29. 1
  30. what it cost you
  31. True
  32. 3
  33. 1
  34. 14
  35. True
  36. 57
  37. False
  38. False
  39. 78
  40. True

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