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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 485 · 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.Riya makes 24 paper bookmarks at a cost of ₹13 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  2. 2.One clay diya costs ₹6 to make. Riya wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  3. 3.It costs ₹19 to make one glass of chai. Meera sells it for ₹34. What is the profit on one (in ₹)?
  4. 4.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  5. 5.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  6. 6.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  7. 7.It costs ₹45 to make one cup of lemonade. Saanvi sells it for ₹46. What is the profit on one (in ₹)?
  8. 8.One paper bookmark costs Joseph ₹51 to make and sells for ₹47. Is that a profit or a loss? (a) Profit (b) Loss
  9. 9.One bag of popcorn costs ₹41 to make. Rohan wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  10. 10.It costs ₹34 to make one painted pebble. Gurpreet sells it for ₹39. What is the profit on one (in ₹)?
  11. 11.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  12. 12.True or false: “money spent to get it” is the cost price. (a) True (b) False
  13. 13.True or false: “cost of making one” is the cost price. (a) False (b) True
  14. 14.It costs ₹12 to make one friendship band. Gurpreet sells it for ₹16. What is the profit on one (in ₹)?
  15. 15.True or false: “what you paid for it” is the cost price. (a) False (b) True
  16. 16.It costs ₹64 to make one bag of popcorn. On the last day Aarav sells it for only ₹57. How much is the loss on one (in ₹)?
  17. 17.True or false: “the price you sell at” is the cost price. (a) False (b) True
  18. 18.It costs ₹55 to make one handmade card. Ishaan sells it for ₹74. What is the profit on one (in ₹)?
  19. 19.True or false: “money got from a sale” is the selling price. (a) True (b) False
  20. 20.One handmade card costs Riya ₹59 to make and sells for ₹55. Is that a profit or a loss? (a) Loss (b) Profit
  21. 21.🏷️ Cost price means… (a) the discount (b) what the buyer pays (c) what it cost you (d) the profit
  22. 22.Ananya makes 25 clay diyas at a cost of ₹29 each and sells all of them at ₹32 each. What is the total profit (in ₹)?
  23. 23.One clay diya costs Riya ₹45 to make and sells for ₹46. Is that a profit or a loss? (a) Loss (b) Profit
  24. 24.📉 When is there a loss? (a) SP more than CP (b) SP equal to CP (c) SP less than CP (d) always
  25. 25.One glass of chai costs Dev ₹44 to make and sells for ₹43. Is that a profit or a loss? (a) Loss (b) Profit
  26. 26.One jute bag costs ₹20 to make. Gurpreet wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  27. 27.One jute bag costs ₹31 to make. Aarav wants a profit of ₹7 on each. What should the selling price be (in ₹)?
  28. 28.💵 Selling price means… (a) what it cost you (b) what the buyer pays (c) the loss (d) the stall fee
  29. 29.It costs ₹16 to make one painted pebble. Arjun sells it for ₹19. What is the profit on one (in ₹)?
  30. 30.One bag of popcorn costs ₹16 to make. Riya wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  31. 31.One painted pebble costs Joseph ₹55 to make and sells for ₹60. Is that a profit or a loss? (a) Loss (b) Profit
  32. 32.One paper bookmark costs Saanvi ₹26 to make and sells for ₹40. Is that a profit or a loss? (a) Loss (b) Profit
  33. 33.True or false: “what you paid for it” is the selling price. (a) False (b) True
  34. 34.One glass of chai costs Nisha ₹28 to make and sells for ₹16. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  36. 36.True or false: “the price you sell at” is the selling price. (a) False (b) True
  37. 37.One potted plant costs Tara ₹37 to make and sells for ₹32. Is that a profit or a loss? (a) Loss (b) Profit
  38. 38.📈 When is there a profit? (a) SP less than CP (b) SP more than CP (c) never (d) SP equal to CP
  39. 39.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  40. 40.It costs ₹27 to make one cupcake. Arjun sells it for ₹28. What is the profit on one (in ₹)?

Answer key

  1. 312
  2. 19
  3. 15
  4. selling price
  5. selling price
  6. cost price
  7. 1
  8. Loss
  9. 53
  10. 5
  11. cost price
  12. True
  13. True
  14. 4
  15. True
  16. 7
  17. False
  18. 19
  19. True
  20. Loss
  21. what it cost you
  22. 75
  23. Profit
  24. SP less than CP
  25. Loss
  26. 25
  27. 38
  28. what the buyer pays
  29. 3
  30. 31
  31. Profit
  32. Profit
  33. False
  34. Loss
  35. True
  36. True
  37. Loss
  38. SP more than CP
  39. cost price
  40. 1

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