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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 529 · 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.🏷️ Cost price means… (a) what the buyer pays (b) the profit (c) what it cost you (d) the discount
  2. 2.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  3. 3.📉 When is there a loss? (a) SP equal to CP (b) SP more than CP (c) always (d) SP less than CP
  4. 4.📈 When is there a profit? (a) SP equal to CP (b) SP less than CP (c) never (d) SP more than CP
  5. 5.True or false: “what a customer pays” is the cost price. (a) True (b) False
  6. 6.Riya makes 27 potted plants at a cost of ₹35 each and sells all of them at ₹46 each. What is the total profit (in ₹)?
  7. 7.One painted pebble costs ₹6 to make. Aarav wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  8. 8.One cupcake costs Joseph ₹45 to make and sells for ₹48. Is that a profit or a loss? (a) Profit (b) Loss
  9. 9.One potted plant costs ₹46 to make. Saanvi wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  10. 10.True or false: “what a customer pays” is the selling price. (a) True (b) False
  11. 11.True or false: “cost of making one” is the selling price. (a) True (b) False
  12. 12.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  13. 13.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  14. 14.True or false: “what you paid for it” is the cost price. (a) False (b) True
  15. 15.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  16. 16.One handmade card costs ₹30 to make. Vihaan wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  17. 17.It costs ₹35 to make one painted pebble. Nisha sells it for ₹52. What is the profit on one (in ₹)?
  18. 18.One clay diya costs ₹59 to make. Joseph wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  19. 19.Aarav makes 7 paper bookmarks at a cost of ₹13 each and sells all of them at ₹22 each. What is the total profit (in ₹)?
  20. 20.💵 Selling price means… (a) the stall fee (b) what the buyer pays (c) the loss (d) what it cost you
  21. 21.One friendship band costs Meera ₹35 to make and sells for ₹31. Is that a profit or a loss? (a) Profit (b) Loss
  22. 22.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  23. 23.One fruit cup costs Diya ₹26 to make and sells for ₹18. Is that a profit or a loss? (a) Profit (b) Loss
  24. 24.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  25. 25.It costs ₹41 to make one cup of lemonade. On the last day Gurpreet sells it for only ₹38. How much is the loss on one (in ₹)?
  26. 26.True or false: “cost of making one” is the cost price. (a) False (b) True
  27. 27.One bag of popcorn costs Dev ₹21 to make and sells for ₹8. Is that a profit or a loss? (a) Profit (b) Loss
  28. 28.It costs ₹36 to make one handmade card. Ananya sells it for ₹37. What is the profit on one (in ₹)?
  29. 29.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  30. 30.One jute bag costs Joseph ₹28 to make and sells for ₹21. Is that a profit or a loss? (a) Loss (b) Profit
  31. 31.It costs ₹15 to make one potted plant. Meera sells it for ₹17. What is the profit on one (in ₹)?
  32. 32.Rohan makes 29 cupcakes at a cost of ₹35 each and sells all of them at ₹50 each. What is the total profit (in ₹)?
  33. 33.It costs ₹9 to make one handmade card. Aarav sells it for ₹21. What is the profit on one (in ₹)?
  34. 34.One paper bookmark costs ₹23 to make. Lakshmi wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  35. 35.One cupcake costs ₹31 to make. Rohan wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  36. 36.True or false: “money spent to get it” is the cost price. (a) False (b) True
  37. 37.One fruit cup costs Lakshmi ₹22 to make and sells for ₹18. Is that a profit or a loss? (a) Loss (b) Profit
  38. 38.One painted pebble costs Dev ₹29 to make and sells for ₹17. Is that a profit or a loss? (a) Loss (b) Profit
  39. 39.It costs ₹33 to make one friendship band. On the last day Rohan sells it for only ₹32. How much is the loss on one (in ₹)?
  40. 40.It costs ₹49 to make one handmade card. Lakshmi sells it for ₹53. What is the profit on one (in ₹)?

Answer key

  1. what it cost you
  2. cost price
  3. SP less than CP
  4. SP more than CP
  5. False
  6. 297
  7. 9
  8. Profit
  9. 48
  10. True
  11. False
  12. selling price
  13. cost price
  14. True
  15. selling price
  16. 35
  17. 17
  18. 72
  19. 63
  20. what the buyer pays
  21. Loss
  22. cost price
  23. Loss
  24. selling price
  25. 3
  26. True
  27. Loss
  28. 1
  29. cost price
  30. Loss
  31. 2
  32. 435
  33. 12
  34. 25
  35. 51
  36. True
  37. Loss
  38. Loss
  39. 1
  40. 4

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