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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 512 · 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: “the wholesale price paid” is the cost price. (a) True (b) False
  2. 2.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  3. 3.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  4. 4.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  5. 5.One friendship band costs Tara ₹24 to make and sells for ₹27. Is that a profit or a loss? (a) Loss (b) Profit
  6. 6.True or false: “what a customer pays” is the cost price. (a) True (b) False
  7. 7.Rohan makes 16 bags of popcorn at a cost of ₹9 each and sells all of them at ₹14 each. What is the total profit (in ₹)?
  8. 8.True or false: “what you paid for it” is the selling price. (a) True (b) False
  9. 9.One cup of lemonade costs ₹50 to make. Ishaan wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  10. 10.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) never
  11. 11.True or false: “cost of making one” is the cost price. (a) True (b) False
  12. 12.One cupcake costs Ananya ₹40 to make and sells for ₹32. Is that a profit or a loss? (a) Profit (b) Loss
  13. 13.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  14. 14.One handmade card costs Saanvi ₹17 to make and sells for ₹31. Is that a profit or a loss? (a) Profit (b) Loss
  15. 15.One clay diya costs Nisha ₹60 to make and sells for ₹64. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.It costs ₹55 to make one bag of popcorn. On the last day Diya sells it for only ₹45. How much is the loss on one (in ₹)?
  17. 17.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  18. 18.True or false: “what you paid for it” is the cost price. (a) True (b) False
  19. 19.🏷️ Cost price means… (a) the discount (b) the profit (c) what the buyer pays (d) what it cost you
  20. 20.📉 When is there a loss? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) always
  21. 21.Ananya makes 7 cupcakes at a cost of ₹12 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  22. 22.True or false: “the price you sell at” is the selling price. (a) False (b) True
  23. 23.It costs ₹33 to make one fruit cup. On the last day Saanvi sells it for only ₹29. How much is the loss on one (in ₹)?
  24. 24.One cup of lemonade costs Ananya ₹34 to make and sells for ₹47. Is that a profit or a loss? (a) Loss (b) Profit
  25. 25.True or false: “money got from a sale” is the cost price. (a) True (b) False
  26. 26.True or false: “the price on your board” is the selling price. (a) True (b) False
  27. 27.💵 Selling price means… (a) the stall fee (b) what it cost you (c) what the buyer pays (d) the loss
  28. 28.True or false: “money spent to get it” is the selling price. (a) False (b) True
  29. 29.It costs ₹16 to make one cupcake. Meera sells it for ₹17. What is the profit on one (in ₹)?
  30. 30.One painted pebble costs ₹13 to make. Meera wants a profit of ₹16 on each. What should the selling price be (in ₹)?
  31. 31.It costs ₹10 to make one handmade card. On the last day Ananya sells it for only ₹7. How much is the loss on one (in ₹)?
  32. 32.One glass of chai costs ₹58 to make. Dev wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  33. 33.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  34. 34.It costs ₹42 to make one clay diya. Kavya sells it for ₹60. What is the profit on one (in ₹)?
  35. 35.Kabir makes 23 friendship bands at a cost of ₹17 each and sells all of them at ₹29 each. What is the total profit (in ₹)?
  36. 36.Ananya makes 29 bags of popcorn at a cost of ₹18 each and sells all of them at ₹28 each. What is the total profit (in ₹)?
  37. 37.It costs ₹10 to make one clay diya. Rohan sells it for ₹30. What is the profit on one (in ₹)?
  38. 38.True or false: “cost of making one” is the selling price. (a) False (b) True
  39. 39.Rohan makes 17 painted pebbles at a cost of ₹32 each and sells all of them at ₹41 each. What is the total profit (in ₹)?
  40. 40.Lakshmi makes 19 friendship bands at a cost of ₹28 each and sells all of them at ₹30 each. What is the total profit (in ₹)?

Answer key

  1. True
  2. cost price
  3. cost price
  4. selling price
  5. Profit
  6. False
  7. 80
  8. False
  9. 56
  10. SP more than CP
  11. True
  12. Loss
  13. selling price
  14. Profit
  15. Profit
  16. 10
  17. selling price
  18. True
  19. what it cost you
  20. SP less than CP
  21. 63
  22. True
  23. 4
  24. Profit
  25. False
  26. True
  27. what the buyer pays
  28. False
  29. 1
  30. 29
  31. 3
  32. 73
  33. selling price
  34. 18
  35. 276
  36. 290
  37. 20
  38. False
  39. 153
  40. 38

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