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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 489 · 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.It costs ₹8 to make one paper bookmark. On the last day Riya sells it for only ₹5. How much is the loss on one (in ₹)?
  2. 2.True or false: “what a customer pays” is the selling price. (a) False (b) True
  3. 3.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  4. 4.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  5. 5.True or false: “what you paid for it” is the selling price. (a) False (b) True
  6. 6.True or false: “money got from a sale” is the cost price. (a) True (b) False
  7. 7.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  8. 8.It costs ₹23 to make one paper bookmark. On the last day Vihaan sells it for only ₹14. How much is the loss on one (in ₹)?
  9. 9.True or false: “the price on your board” is the cost price. (a) True (b) False
  10. 10.True or false: “cost of making one” is the selling price. (a) False (b) True
  11. 11.True or false: “money got from a sale” is the selling price. (a) True (b) False
  12. 12.Farhan makes 7 cups of lemonade at a cost of ₹10 each and sells all of them at ₹18 each. What is the total profit (in ₹)?
  13. 13.💵 Selling price means… (a) what it cost you (b) the stall fee (c) what the buyer pays (d) the loss
  14. 14.📈 When is there a profit? (a) SP less than CP (b) never (c) SP more than CP (d) SP equal to CP
  15. 15.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  16. 16.📉 When is there a loss? (a) SP equal to CP (b) SP more than CP (c) always (d) SP less than CP
  17. 17.One paper bookmark costs Rohan ₹19 to make and sells for ₹17. Is that a profit or a loss? (a) Profit (b) Loss
  18. 18.It costs ₹66 to make one cup of lemonade. On the last day Riya sells it for only ₹60. How much is the loss on one (in ₹)?
  19. 19.It costs ₹20 to make one glass of chai. On the last day Gurpreet sells it for only ₹19. How much is the loss on one (in ₹)?
  20. 20.Tara makes 23 jute bags at a cost of ₹31 each and sells all of them at ₹32 each. What is the total profit (in ₹)?
  21. 21.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  22. 22.One cupcake costs Ananya ₹41 to make and sells for ₹45. Is that a profit or a loss? (a) Profit (b) Loss
  23. 23.Ananya makes 22 potted plants at a cost of ₹17 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  24. 24.🏷️ Cost price means… (a) what it cost you (b) what the buyer pays (c) the profit (d) the discount
  25. 25.It costs ₹31 to make one handmade card. On the last day Ishaan sells it for only ₹28. How much is the loss on one (in ₹)?
  26. 26.One clay diya costs Arjun ₹39 to make and sells for ₹25. Is that a profit or a loss? (a) Profit (b) Loss
  27. 27.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  28. 28.It costs ₹23 to make one potted plant. Meera sells it for ₹41. What is the profit on one (in ₹)?
  29. 29.It costs ₹32 to make one handmade card. Joseph sells it for ₹42. What is the profit on one (in ₹)?
  30. 30.One jute bag costs ₹38 to make. Ananya wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  31. 31.Farhan makes 26 glasses of chai at a cost of ₹9 each and sells all of them at ₹13 each. What is the total profit (in ₹)?
  32. 32.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  33. 33.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  34. 34.One fruit cup costs ₹21 to make. Aarav wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  35. 35.One potted plant costs Lakshmi ₹50 to make and sells for ₹45. Is that a profit or a loss? (a) Loss (b) Profit
  36. 36.True or false: “what a customer pays” is the cost price. (a) False (b) True
  37. 37.One cup of lemonade costs Riya ₹47 to make and sells for ₹52. Is that a profit or a loss? (a) Loss (b) Profit
  38. 38.It costs ₹48 to make one friendship band. Ananya sells it for ₹59. What is the profit on one (in ₹)?
  39. 39.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  40. 40.True or false: “money spent to get it” is the selling price. (a) False (b) True

Answer key

  1. 3
  2. True
  3. False
  4. cost price
  5. False
  6. False
  7. cost price
  8. 9
  9. False
  10. False
  11. True
  12. 56
  13. what the buyer pays
  14. SP more than CP
  15. True
  16. SP less than CP
  17. Loss
  18. 6
  19. 1
  20. 23
  21. selling price
  22. Profit
  23. 88
  24. what it cost you
  25. 3
  26. Loss
  27. selling price
  28. 18
  29. 10
  30. 53
  31. 104
  32. cost price
  33. selling price
  34. 36
  35. Loss
  36. False
  37. Profit
  38. 11
  39. cost price
  40. False

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