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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 515 · 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.Lakshmi makes 11 friendship bands at a cost of ₹12 each and sells all of them at ₹13 each. What is the total profit (in ₹)?
  2. 2.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  3. 3.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  4. 4.True or false: “cost of making one” is the selling price. (a) True (b) False
  5. 5.📉 When is there a loss? (a) SP less than CP (b) always (c) SP more than CP (d) SP equal to CP
  6. 6.True or false: “money spent to get it” is the cost price. (a) True (b) False
  7. 7.📈 When is there a profit? (a) SP less than CP (b) SP more than CP (c) SP equal to CP (d) never
  8. 8.It costs ₹9 to make one bag of popcorn. Ishaan sells it for ₹23. What is the profit on one (in ₹)?
  9. 9.Ananya makes 6 glasses of chai at a cost of ₹31 each and sells all of them at ₹37 each. What is the total profit (in ₹)?
  10. 10.It costs ₹20 to make one cup of lemonade. On the last day Lakshmi sells it for only ₹18. How much is the loss on one (in ₹)?
  11. 11.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  12. 12.One glass of chai costs ₹44 to make. Zoya wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  13. 13.🏷️ Cost price means… (a) the profit (b) the discount (c) what it cost you (d) what the buyer pays
  14. 14.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  15. 15.It costs ₹57 to make one friendship band. On the last day Zoya sells it for only ₹54. How much is the loss on one (in ₹)?
  16. 16.One bag of popcorn costs ₹48 to make. Gurpreet wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  17. 17.Gurpreet makes 26 handmade cards at a cost of ₹18 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  18. 18.True or false: “what you paid for it” is the selling price. (a) False (b) True
  19. 19.It costs ₹20 to make one friendship band. On the last day Arjun sells it for only ₹10. How much is the loss on one (in ₹)?
  20. 20.True or false: “the price you sell at” is the cost price. (a) True (b) False
  21. 21.Vihaan makes 11 clay diyas at a cost of ₹9 each and sells all of them at ₹16 each. What is the total profit (in ₹)?
  22. 22.Tara makes 15 painted pebbles at a cost of ₹26 each and sells all of them at ₹27 each. What is the total profit (in ₹)?
  23. 23.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  24. 24.It costs ₹20 to make one friendship band. On the last day Aarav sells it for only ₹10. How much is the loss on one (in ₹)?
  25. 25.💵 Selling price means… (a) what it cost you (b) the stall fee (c) the loss (d) what the buyer pays
  26. 26.One paper bookmark costs Riya ₹27 to make and sells for ₹24. Is that a profit or a loss? (a) Profit (b) Loss
  27. 27.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  28. 28.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  29. 29.One paper bookmark costs ₹23 to make. Farhan wants a profit of ₹19 on each. What should the selling price be (in ₹)?
  30. 30.It costs ₹31 to make one jute bag. On the last day Kavya sells it for only ₹29. How much is the loss on one (in ₹)?
  31. 31.True or false: “the price on your board” is the cost price. (a) True (b) False
  32. 32.One glass of chai costs Farhan ₹58 to make and sells for ₹61. Is that a profit or a loss? (a) Loss (b) Profit
  33. 33.One cup of lemonade costs ₹27 to make. Meera wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  34. 34.One painted pebble costs Riya ₹21 to make and sells for ₹22. Is that a profit or a loss? (a) Loss (b) Profit
  35. 35.It costs ₹24 to make one cupcake. On the last day Kavya sells it for only ₹23. How much is the loss on one (in ₹)?
  36. 36.One jute bag costs Diya ₹33 to make and sells for ₹44. Is that a profit or a loss? (a) Loss (b) Profit
  37. 37.One cup of lemonade costs ₹55 to make. Vihaan wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  38. 38.It costs ₹53 to make one clay diya. Arjun sells it for ₹56. What is the profit on one (in ₹)?
  39. 39.It costs ₹45 to make one paper bookmark. On the last day Kavya sells it for only ₹40. How much is the loss on one (in ₹)?
  40. 40.True or false: “money got from a sale” is the cost price. (a) True (b) False

Answer key

  1. 11
  2. selling price
  3. cost price
  4. False
  5. SP less than CP
  6. True
  7. SP more than CP
  8. 14
  9. 36
  10. 2
  11. False
  12. 58
  13. what it cost you
  14. cost price
  15. 3
  16. 66
  17. 338
  18. False
  19. 10
  20. False
  21. 77
  22. 15
  23. selling price
  24. 10
  25. what the buyer pays
  26. Loss
  27. cost price
  28. selling price
  29. 42
  30. 2
  31. False
  32. Profit
  33. 32
  34. Profit
  35. 1
  36. Profit
  37. 67
  38. 3
  39. 5
  40. False

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