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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 544 · 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.True or false: “cost of making one” is the cost price. (a) False (b) True
  2. 2.It costs ₹38 to make one potted plant. Kabir sells it for ₹46. What is the profit on one (in ₹)?
  3. 3.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  4. 4.🏷️ Cost price means… (a) the profit (b) what it cost you (c) the discount (d) what the buyer pays
  5. 5.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  6. 6.📉 When is there a loss? (a) always (b) SP more than CP (c) SP equal to CP (d) SP less than CP
  7. 7.Zoya makes 17 painted pebbles at a cost of ₹28 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  8. 8.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  9. 9.True or false: “the price you sell at” is the cost price. (a) False (b) True
  10. 10.True or false: “the price on your board” is the cost price. (a) True (b) False
  11. 11.One handmade card costs Gurpreet ₹36 to make and sells for ₹42. Is that a profit or a loss? (a) Loss (b) Profit
  12. 12.One cupcake costs Riya ₹57 to make and sells for ₹51. Is that a profit or a loss? (a) Loss (b) Profit
  13. 13.One bag of popcorn costs Lakshmi ₹52 to make and sells for ₹43. Is that a profit or a loss? (a) Profit (b) Loss
  14. 14.True or false: “what you paid for it” is the selling price. (a) True (b) False
  15. 15.True or false: “the price on your board” is the selling price. (a) False (b) True
  16. 16.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) never
  17. 17.It costs ₹19 to make one handmade card. Tara sells it for ₹21. What is the profit on one (in ₹)?
  18. 18.It costs ₹37 to make one jute bag. Aarav sells it for ₹38. What is the profit on one (in ₹)?
  19. 19.It costs ₹7 to make one glass of chai. On the last day Meera sells it for only ₹5. How much is the loss on one (in ₹)?
  20. 20.It costs ₹11 to make one paper bookmark. Lakshmi sells it for ₹26. What is the profit on one (in ₹)?
  21. 21.One fruit cup costs Joseph ₹26 to make and sells for ₹36. Is that a profit or a loss? (a) Loss (b) Profit
  22. 22.It costs ₹48 to make one painted pebble. Tara sells it for ₹50. What is the profit on one (in ₹)?
  23. 23.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  24. 24.One handmade card costs Gurpreet ₹58 to make and sells for ₹63. Is that a profit or a loss? (a) Profit (b) Loss
  25. 25.It costs ₹10 to make one handmade card. On the last day Meera sells it for only ₹5. How much is the loss on one (in ₹)?
  26. 26.One cupcake costs ₹33 to make. Gurpreet wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  27. 27.It costs ₹49 to make one cupcake. On the last day Ananya sells it for only ₹42. How much is the loss on one (in ₹)?
  28. 28.It costs ₹57 to make one clay diya. On the last day Arjun sells it for only ₹53. How much is the loss on one (in ₹)?
  29. 29.💵 Selling price means… (a) what the buyer pays (b) the stall fee (c) the loss (d) what it cost you
  30. 30.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  31. 31.It costs ₹21 to make one cupcake. On the last day Aarav sells it for only ₹16. How much is the loss on one (in ₹)?
  32. 32.Zoya makes 10 potted plants at a cost of ₹6 each and sells all of them at ₹16 each. What is the total profit (in ₹)?
  33. 33.It costs ₹10 to make one bag of popcorn. On the last day Joseph sells it for only ₹7. How much is the loss on one (in ₹)?
  34. 34.One cupcake costs Gurpreet ₹17 to make and sells for ₹11. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.One cupcake costs Vihaan ₹23 to make and sells for ₹27. Is that a profit or a loss? (a) Loss (b) Profit
  36. 36.It costs ₹41 to make one cupcake. Aarav sells it for ₹55. What is the profit on one (in ₹)?
  37. 37.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  38. 38.True or false: “money got from a sale” is the selling price. (a) False (b) True
  39. 39.One clay diya costs ₹41 to make. Ishaan wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  40. 40.Nisha makes 16 glasses of chai at a cost of ₹23 each and sells all of them at ₹38 each. What is the total profit (in ₹)?

Answer key

  1. True
  2. 8
  3. cost price
  4. what it cost you
  5. selling price
  6. SP less than CP
  7. 255
  8. cost price
  9. False
  10. False
  11. Profit
  12. Loss
  13. Loss
  14. False
  15. True
  16. SP more than CP
  17. 2
  18. 1
  19. 2
  20. 15
  21. Profit
  22. 2
  23. cost price
  24. Profit
  25. 5
  26. 46
  27. 7
  28. 4
  29. what the buyer pays
  30. True
  31. 5
  32. 100
  33. 3
  34. Loss
  35. Profit
  36. 14
  37. selling price
  38. True
  39. 55
  40. 240

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