← Cost price, selling price, profit and loss lesson New set →

Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 378 · 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 wholesale price paid” is the cost price. (a) False (b) True
  2. 2.Kavya makes 8 handmade cards at a cost of ₹36 each and sells all of them at ₹47 each. What is the total profit (in ₹)?
  3. 3.It costs ₹48 to make one fruit cup. Vihaan sells it for ₹52. What is the profit on one (in ₹)?
  4. 4.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  5. 5.It costs ₹18 to make one painted pebble. Dev sells it for ₹23. What is the profit on one (in ₹)?
  6. 6.💵 Selling price means… (a) what it cost you (b) the stall fee (c) what the buyer pays (d) the loss
  7. 7.One cupcake costs Ananya ₹24 to make and sells for ₹10. Is that a profit or a loss? (a) Loss (b) Profit
  8. 8.True or false: “what a customer pays” is the cost price. (a) True (b) False
  9. 9.It costs ₹50 to make one potted plant. Riya sells it for ₹57. What is the profit on one (in ₹)?
  10. 10.True or false: “money got from a sale” is the cost price. (a) False (b) True
  11. 11.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  12. 12.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  13. 13.Lakshmi makes 9 potted plants at a cost of ₹25 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  14. 14.True or false: “cost of making one” is the selling price. (a) False (b) True
  15. 15.It costs ₹51 to make one glass of chai. Meera sells it for ₹55. What is the profit on one (in ₹)?
  16. 16.Joseph makes 8 friendship bands at a cost of ₹13 each and sells all of them at ₹24 each. What is the total profit (in ₹)?
  17. 17.It costs ₹47 to make one cupcake. On the last day Meera sells it for only ₹45. How much is the loss on one (in ₹)?
  18. 18.One handmade card costs ₹60 to make. Ananya wants a profit of ₹10 on each. What should the selling price be (in ₹)?
  19. 19.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  20. 20.One friendship band costs Rohan ₹30 to make and sells for ₹26. Is that a profit or a loss? (a) Profit (b) Loss
  21. 21.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  22. 22.It costs ₹38 to make one glass of chai. Saanvi sells it for ₹44. What is the profit on one (in ₹)?
  23. 23.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  24. 24.One glass of chai costs Riya ₹33 to make and sells for ₹36. Is that a profit or a loss? (a) Loss (b) Profit
  25. 25.It costs ₹54 to make one cup of lemonade. On the last day Kabir sells it for only ₹50. How much is the loss on one (in ₹)?
  26. 26.It costs ₹31 to make one paper bookmark. Riya sells it for ₹36. What is the profit on one (in ₹)?
  27. 27.Nisha makes 10 glasses of chai at a cost of ₹33 each and sells all of them at ₹45 each. What is the total profit (in ₹)?
  28. 28.One fruit cup costs Arjun ₹55 to make and sells for ₹44. Is that a profit or a loss? (a) Profit (b) Loss
  29. 29.🏷️ Cost price means… (a) what the buyer pays (b) the discount (c) the profit (d) what it cost you
  30. 30.One friendship band costs Nisha ₹29 to make and sells for ₹30. Is that a profit or a loss? (a) Profit (b) Loss
  31. 31.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) never
  32. 32.It costs ₹62 to make one glass of chai. On the last day Joseph sells it for only ₹53. How much is the loss on one (in ₹)?
  33. 33.One potted plant costs ₹12 to make. Tara wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  34. 34.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  35. 35.One clay diya costs ₹53 to make. Ananya wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  36. 36.One friendship band costs Rohan ₹57 to make and sells for ₹44. Is that a profit or a loss? (a) Profit (b) Loss
  37. 37.One bag of popcorn costs Riya ₹29 to make and sells for ₹30. Is that a profit or a loss? (a) Profit (b) Loss
  38. 38.It costs ₹38 to make one clay diya. Rohan sells it for ₹44. What is the profit on one (in ₹)?
  39. 39.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  40. 40.📉 When is there a loss? (a) SP more than CP (b) SP less than CP (c) always (d) SP equal to CP

Answer key

  1. True
  2. 88
  3. 4
  4. selling price
  5. 5
  6. what the buyer pays
  7. Loss
  8. False
  9. 7
  10. False
  11. selling price
  12. False
  13. 126
  14. False
  15. 4
  16. 88
  17. 2
  18. 70
  19. cost price
  20. Loss
  21. cost price
  22. 6
  23. cost price
  24. Profit
  25. 4
  26. 5
  27. 120
  28. Loss
  29. what it cost you
  30. Profit
  31. SP more than CP
  32. 9
  33. 20
  34. selling price
  35. 64
  36. Loss
  37. Profit
  38. 6
  39. selling price
  40. SP less than CP

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids