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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 428 · 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: “what you paid for it” is the selling price. (a) False (b) True
  2. 2.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  3. 3.📈 When is there a profit? (a) SP equal to CP (b) SP less than CP (c) never (d) SP more than CP
  4. 4.One handmade card costs Diya ₹36 to make and sells for ₹31. Is that a profit or a loss? (a) Loss (b) Profit
  5. 5.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  6. 6.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  7. 7.One clay diya costs Vihaan ₹19 to make and sells for ₹22. Is that a profit or a loss? (a) Loss (b) Profit
  8. 8.Tara makes 26 jute bags at a cost of ₹16 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  9. 9.True or false: “money got from a sale” is the cost price. (a) False (b) True
  10. 10.True or false: “the price you sell at” is the selling price. (a) True (b) False
  11. 11.True or false: “cost of making one” is the cost price. (a) False (b) True
  12. 12.True or false: “the price you sell at” is the cost price. (a) False (b) True
  13. 13.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  14. 14.It costs ₹52 to make one clay diya. Dev sells it for ₹58. What is the profit on one (in ₹)?
  15. 15.It costs ₹54 to make one handmade card. Lakshmi sells it for ₹56. What is the profit on one (in ₹)?
  16. 16.True or false: “what a customer pays” is the cost price. (a) True (b) False
  17. 17.🏷️ Cost price means… (a) the profit (b) the discount (c) what the buyer pays (d) what it cost you
  18. 18.One jute bag costs Rohan ₹35 to make and sells for ₹27. Is that a profit or a loss? (a) Profit (b) Loss
  19. 19.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  20. 20.One cupcake costs Gurpreet ₹30 to make and sells for ₹23. Is that a profit or a loss? (a) Profit (b) Loss
  21. 21.One cup of lemonade costs ₹54 to make. Aarav wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  22. 22.It costs ₹47 to make one bag of popcorn. On the last day Joseph sells it for only ₹39. How much is the loss on one (in ₹)?
  23. 23.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  24. 24.It costs ₹45 to make one paper bookmark. On the last day Zoya sells it for only ₹36. How much is the loss on one (in ₹)?
  25. 25.It costs ₹34 to make one friendship band. Saanvi sells it for ₹47. What is the profit on one (in ₹)?
  26. 26.💵 Selling price means… (a) the stall fee (b) the loss (c) what it cost you (d) what the buyer pays
  27. 27.One painted pebble costs ₹44 to make. Arjun wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  28. 28.📉 When is there a loss? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) always
  29. 29.True or false: “the price on your board” is the selling price. (a) False (b) True
  30. 30.True or false: “what a customer pays” is the selling price. (a) True (b) False
  31. 31.True or false: “cost of making one” is the selling price. (a) False (b) True
  32. 32.One glass of chai costs Meera ₹53 to make and sells for ₹42. Is that a profit or a loss? (a) Loss (b) Profit
  33. 33.One glass of chai costs Meera ₹37 to make and sells for ₹35. Is that a profit or a loss? (a) Loss (b) Profit
  34. 34.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  35. 35.It costs ₹40 to make one jute bag. On the last day Riya sells it for only ₹32. How much is the loss on one (in ₹)?
  36. 36.Zoya makes 19 glasses of chai at a cost of ₹8 each and sells all of them at ₹18 each. What is the total profit (in ₹)?
  37. 37.One paper bookmark costs ₹24 to make. Nisha wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  38. 38.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  39. 39.Aarav makes 11 paper bookmarks at a cost of ₹25 each and sells all of them at ₹29 each. What is the total profit (in ₹)?
  40. 40.True or false: “the price on your board” is the cost price. (a) True (b) False

Answer key

  1. False
  2. True
  3. SP more than CP
  4. Loss
  5. cost price
  6. cost price
  7. Profit
  8. 130
  9. False
  10. True
  11. True
  12. False
  13. selling price
  14. 6
  15. 2
  16. False
  17. what it cost you
  18. Loss
  19. False
  20. Loss
  21. 67
  22. 8
  23. cost price
  24. 9
  25. 13
  26. what the buyer pays
  27. 55
  28. SP less than CP
  29. True
  30. True
  31. False
  32. Loss
  33. Loss
  34. selling price
  35. 8
  36. 190
  37. 27
  38. selling price
  39. 44
  40. False

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