← 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 426 · 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 price on your board” is the selling price. (a) False (b) True
  2. 2.💵 Selling price means… (a) the stall fee (b) the loss (c) what the buyer pays (d) what it cost you
  3. 3.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  4. 4.🏷️ Cost price means… (a) what it cost you (b) the discount (c) what the buyer pays (d) the profit
  5. 5.One clay diya costs Gurpreet ₹32 to make and sells for ₹38. Is that a profit or a loss? (a) Profit (b) Loss
  6. 6.It costs ₹47 to make one bag of popcorn. On the last day Joseph sells it for only ₹42. How much is the loss on one (in ₹)?
  7. 7.📈 When is there a profit? (a) SP equal to CP (b) never (c) SP less than CP (d) SP more than CP
  8. 8.One cupcake costs ₹15 to make. Lakshmi wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  9. 9.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  10. 10.True or false: “what you paid for it” is the cost price. (a) True (b) False
  11. 11.One fruit cup costs Rohan ₹22 to make and sells for ₹17. Is that a profit or a loss? (a) Profit (b) Loss
  12. 12.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  13. 13.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  14. 14.True or false: “what you paid for it” is the selling price. (a) True (b) False
  15. 15.One handmade card costs Kabir ₹48 to make and sells for ₹44. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.True or false: “the price you sell at” is the cost price. (a) True (b) False
  17. 17.True or false: “the price you sell at” is the selling price. (a) False (b) True
  18. 18.True or false: “the price on your board” is the cost price. (a) False (b) True
  19. 19.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  20. 20.It costs ₹24 to make one glass of chai. On the last day Lakshmi sells it for only ₹20. How much is the loss on one (in ₹)?
  21. 21.One jute bag costs Joseph ₹40 to make and sells for ₹48. Is that a profit or a loss? (a) Loss (b) Profit
  22. 22.Meera makes 24 handmade cards at a cost of ₹6 each and sells all of them at ₹18 each. What is the total profit (in ₹)?
  23. 23.It costs ₹58 to make one jute bag. On the last day Tara sells it for only ₹49. How much is the loss on one (in ₹)?
  24. 24.One friendship band costs Tara ₹49 to make and sells for ₹59. Is that a profit or a loss? (a) Profit (b) Loss
  25. 25.True or false: “cost of making one” is the cost price. (a) False (b) True
  26. 26.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  27. 27.It costs ₹11 to make one jute bag. On the last day Saanvi sells it for only ₹8. How much is the loss on one (in ₹)?
  28. 28.Zoya makes 21 clay diyas at a cost of ₹21 each and sells all of them at ₹23 each. What is the total profit (in ₹)?
  29. 29.One bag of popcorn costs ₹55 to make. Vihaan wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  30. 30.It costs ₹14 to make one paper bookmark. On the last day Tara sells it for only ₹13. How much is the loss on one (in ₹)?
  31. 31.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  32. 32.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  33. 33.It costs ₹37 to make one handmade card. Lakshmi sells it for ₹47. What is the profit on one (in ₹)?
  34. 34.True or false: “cost of making one” is the selling price. (a) True (b) False
  35. 35.It costs ₹43 to make one potted plant. Aarav sells it for ₹57. What is the profit on one (in ₹)?
  36. 36.Riya makes 12 bags of popcorn at a cost of ₹39 each and sells all of them at ₹52 each. What is the total profit (in ₹)?
  37. 37.It costs ₹64 to make one cupcake. On the last day Saanvi sells it for only ₹55. How much is the loss on one (in ₹)?
  38. 38.It costs ₹59 to make one fruit cup. On the last day Lakshmi sells it for only ₹51. How much is the loss on one (in ₹)?
  39. 39.One paper bookmark costs Vihaan ₹16 to make and sells for ₹7. Is that a profit or a loss? (a) Loss (b) Profit
  40. 40.📉 When is there a loss? (a) always (b) SP equal to CP (c) SP less than CP (d) SP more than CP

Answer key

  1. True
  2. what the buyer pays
  3. selling price
  4. what it cost you
  5. Profit
  6. 5
  7. SP more than CP
  8. 20
  9. cost price
  10. True
  11. Loss
  12. selling price
  13. True
  14. False
  15. Loss
  16. False
  17. True
  18. False
  19. cost price
  20. 4
  21. Profit
  22. 288
  23. 9
  24. Profit
  25. True
  26. selling price
  27. 3
  28. 42
  29. 59
  30. 1
  31. cost price
  32. cost price
  33. 10
  34. False
  35. 14
  36. 156
  37. 9
  38. 8
  39. Loss
  40. SP less than CP

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