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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 423 · 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: “money spent to get it” is the cost price. (a) True (b) False
  2. 2.One handmade card costs Dev ₹21 to make and sells for ₹26. Is that a profit or a loss? (a) Profit (b) Loss
  3. 3.💵 Selling price means… (a) the stall fee (b) what it cost you (c) the loss (d) what the buyer pays
  4. 4.One paper bookmark costs ₹18 to make. Ananya wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  5. 5.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  6. 6.🏷️ Cost price means… (a) what it cost you (b) what the buyer pays (c) the profit (d) the discount
  7. 7.It costs ₹20 to make one potted plant. On the last day Lakshmi sells it for only ₹13. How much is the loss on one (in ₹)?
  8. 8.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  9. 9.True or false: “money got from a sale” is the selling price. (a) False (b) True
  10. 10.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  11. 11.It costs ₹8 to make one cup of lemonade. Lakshmi sells it for ₹10. What is the profit on one (in ₹)?
  12. 12.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  13. 13.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  14. 14.True or false: “money spent to get it” is the selling price. (a) True (b) False
  15. 15.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  16. 16.Aarav makes 7 handmade cards at a cost of ₹15 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  17. 17.It costs ₹28 to make one cup of lemonade. On the last day Gurpreet sells it for only ₹26. How much is the loss on one (in ₹)?
  18. 18.One painted pebble costs Kavya ₹20 to make and sells for ₹22. Is that a profit or a loss? (a) Loss (b) Profit
  19. 19.True or false: “the price you sell at” is the cost price. (a) False (b) True
  20. 20.📉 When is there a loss? (a) SP equal to CP (b) SP less than CP (c) always (d) SP more than CP
  21. 21.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  22. 22.It costs ₹54 to make one handmade card. On the last day Kabir sells it for only ₹51. How much is the loss on one (in ₹)?
  23. 23.It costs ₹59 to make one bag of popcorn. Kavya sells it for ₹60. What is the profit on one (in ₹)?
  24. 24.Saanvi makes 6 paper bookmarks at a cost of ₹6 each and sells all of them at ₹13 each. What is the total profit (in ₹)?
  25. 25.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  26. 26.It costs ₹55 to make one handmade card. Tara sells it for ₹58. What is the profit on one (in ₹)?
  27. 27.One potted plant costs Kavya ₹26 to make and sells for ₹16. Is that a profit or a loss? (a) Profit (b) Loss
  28. 28.It costs ₹19 to make one fruit cup. Meera sells it for ₹29. What is the profit on one (in ₹)?
  29. 29.📈 When is there a profit? (a) SP less than CP (b) never (c) SP more than CP (d) SP equal to CP
  30. 30.It costs ₹21 to make one fruit cup. Joseph sells it for ₹24. What is the profit on one (in ₹)?
  31. 31.It costs ₹39 to make one paper bookmark. Tara sells it for ₹41. What is the profit on one (in ₹)?
  32. 32.True or false: “the price you sell at” is the selling price. (a) True (b) False
  33. 33.One paper bookmark costs Vihaan ₹18 to make and sells for ₹32. Is that a profit or a loss? (a) Profit (b) Loss
  34. 34.One cup of lemonade costs Kabir ₹41 to make and sells for ₹42. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.One fruit cup costs ₹7 to make. Nisha wants a profit of ₹16 on each. What should the selling price be (in ₹)?
  36. 36.True or false: “cost of making one” is the cost price. (a) True (b) False
  37. 37.It costs ₹58 to make one handmade card. Kabir sells it for ₹66. What is the profit on one (in ₹)?
  38. 38.Joseph makes 7 cups of lemonade at a cost of ₹23 each and sells all of them at ₹32 each. What is the total profit (in ₹)?
  39. 39.True or false: “what you paid for it” is the cost price. (a) True (b) False
  40. 40.It costs ₹49 to make one handmade card. Nisha sells it for ₹56. What is the profit on one (in ₹)?

Answer key

  1. True
  2. Profit
  3. what the buyer pays
  4. 32
  5. cost price
  6. what it cost you
  7. 7
  8. selling price
  9. True
  10. selling price
  11. 2
  12. False
  13. selling price
  14. False
  15. cost price
  16. 77
  17. 2
  18. Profit
  19. False
  20. SP less than CP
  21. True
  22. 3
  23. 1
  24. 42
  25. cost price
  26. 3
  27. Loss
  28. 10
  29. SP more than CP
  30. 3
  31. 2
  32. True
  33. Profit
  34. Profit
  35. 23
  36. True
  37. 8
  38. 63
  39. True
  40. 7

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