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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 389 · 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 or selling price: the wholesale price paid? (a) selling price (b) cost price
  2. 2.📉 When is there a loss? (a) SP less than CP (b) always (c) SP equal to CP (d) SP more than CP
  3. 3.💵 Selling price means… (a) what it cost you (b) what the buyer pays (c) the stall fee (d) the loss
  4. 4.True or false: “the price on your board” is the cost price. (a) True (b) False
  5. 5.🏷️ Cost price means… (a) the discount (b) what it cost you (c) what the buyer pays (d) the profit
  6. 6.True or false: “cost of making one” is the cost price. (a) True (b) False
  7. 7.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  8. 8.One clay diya costs ₹9 to make. Gurpreet wants a profit of ₹9 on each. What should the selling price be (in ₹)?
  9. 9.True or false: “money spent to get it” is the cost price. (a) True (b) False
  10. 10.True or false: “the price you sell at” is the selling price. (a) True (b) False
  11. 11.It costs ₹50 to make one bag of popcorn. Lakshmi sells it for ₹61. What is the profit on one (in ₹)?
  12. 12.📈 When is there a profit? (a) never (b) SP more than CP (c) SP less than CP (d) SP equal to CP
  13. 13.It costs ₹23 to make one glass of chai. Ananya sells it for ₹39. What is the profit on one (in ₹)?
  14. 14.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  15. 15.One paper bookmark costs ₹34 to make. Ananya wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  16. 16.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  17. 17.It costs ₹36 to make one glass of chai. Saanvi sells it for ₹38. What is the profit on one (in ₹)?
  18. 18.One bag of popcorn costs ₹24 to make. Rohan wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  19. 19.One potted plant costs Tara ₹56 to make and sells for ₹70. Is that a profit or a loss? (a) Loss (b) Profit
  20. 20.It costs ₹25 to make one cup of lemonade. Kavya sells it for ₹26. What is the profit on one (in ₹)?
  21. 21.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  22. 22.True or false: “what a customer pays” is the selling price. (a) False (b) True
  23. 23.One potted plant costs Lakshmi ₹57 to make and sells for ₹58. 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.One bag of popcorn costs ₹40 to make. Kabir wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  26. 26.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  27. 27.One handmade card costs Farhan ₹49 to make and sells for ₹56. Is that a profit or a loss? (a) Loss (b) Profit
  28. 28.One bag of popcorn costs ₹47 to make. Arjun wants a profit of ₹7 on each. What should the selling price be (in ₹)?
  29. 29.One jute bag costs Gurpreet ₹37 to make and sells for ₹36. Is that a profit or a loss? (a) Profit (b) Loss
  30. 30.It costs ₹6 to make one jute bag. Ishaan sells it for ₹16. What is the profit on one (in ₹)?
  31. 31.One handmade card costs Farhan ₹50 to make and sells for ₹57. Is that a profit or a loss? (a) Loss (b) Profit
  32. 32.One friendship band costs Aarav ₹41 to make and sells for ₹44. Is that a profit or a loss? (a) Loss (b) Profit
  33. 33.One handmade card costs ₹29 to make. Gurpreet wants a profit of ₹7 on each. What should the selling price be (in ₹)?
  34. 34.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  35. 35.One cupcake costs ₹54 to make. Gurpreet wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  36. 36.It costs ₹16 to make one glass of chai. Riya sells it for ₹21. What is the profit on one (in ₹)?
  37. 37.One glass of chai costs ₹5 to make. Kabir wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  38. 38.True or false: “the price you sell at” is the cost price. (a) False (b) True
  39. 39.It costs ₹9 to make one painted pebble. On the last day Farhan sells it for only ₹5. How much is the loss on one (in ₹)?
  40. 40.One bag of popcorn costs ₹39 to make. Joseph wants a profit of ₹15 on each. What should the selling price be (in ₹)?

Answer key

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

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