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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 545 · 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 selling price. (a) False (b) True
  2. 2.Farhan makes 14 jute bags at a cost of ₹23 each and sells all of them at ₹25 each. What is the total profit (in ₹)?
  3. 3.Riya makes 8 glasses of chai at a cost of ₹24 each and sells all of them at ₹25 each. What is the total profit (in ₹)?
  4. 4.One painted pebble costs Arjun ₹18 to make and sells for ₹3. Is that a profit or a loss? (a) Loss (b) Profit
  5. 5.One jute bag costs ₹11 to make. Saanvi wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  6. 6.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  7. 7.It costs ₹58 to make one glass of chai. Farhan sells it for ₹59. What is the profit on one (in ₹)?
  8. 8.One potted plant costs Ishaan ₹45 to make and sells for ₹46. Is that a profit or a loss? (a) Profit (b) Loss
  9. 9.It costs ₹5 to make one friendship band. Aarav sells it for ₹23. What is the profit on one (in ₹)?
  10. 10.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  11. 11.True or false: “what you paid for it” is the cost price. (a) True (b) False
  12. 12.One glass of chai costs Saanvi ₹40 to make and sells for ₹38. Is that a profit or a loss? (a) Loss (b) Profit
  13. 13.It costs ₹14 to make one glass of chai. Gurpreet sells it for ₹27. What is the profit on one (in ₹)?
  14. 14.True or false: “the price you sell at” is the cost price. (a) False (b) True
  15. 15.Aarav makes 16 paper bookmarks at a cost of ₹13 each and sells all of them at ₹16 each. What is the total profit (in ₹)?
  16. 16.🏷️ Cost price means… (a) the profit (b) the discount (c) what the buyer pays (d) what it cost you
  17. 17.True or false: “cost of making one” is the cost price. (a) True (b) False
  18. 18.True or false: “what a customer pays” is the selling price. (a) False (b) True
  19. 19.True or false: “what a customer pays” is the cost price. (a) True (b) False
  20. 20.It costs ₹35 to make one cup of lemonade. Arjun sells it for ₹55. What is the profit on one (in ₹)?
  21. 21.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  22. 22.It costs ₹9 to make one handmade card. Lakshmi sells it for ₹16. What is the profit on one (in ₹)?
  23. 23.It costs ₹52 to make one painted pebble. On the last day Lakshmi sells it for only ₹45. How much is the loss on one (in ₹)?
  24. 24.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  25. 25.One handmade card costs ₹12 to make. Joseph wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  26. 26.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  27. 27.One friendship band costs Ishaan ₹26 to make and sells for ₹16. Is that a profit or a loss? (a) Profit (b) Loss
  28. 28.It costs ₹14 to make one fruit cup. On the last day Zoya sells it for only ₹6. How much is the loss on one (in ₹)?
  29. 29.Riya makes 8 clay diyas at a cost of ₹37 each and sells all of them at ₹42 each. What is the total profit (in ₹)?
  30. 30.It costs ₹49 to make one clay diya. Joseph sells it for ₹52. What is the profit on one (in ₹)?
  31. 31.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  32. 32.💵 Selling price means… (a) the loss (b) what it cost you (c) what the buyer pays (d) the stall fee
  33. 33.True or false: “the price on your board” is the selling price. (a) True (b) False
  34. 34.Aarav makes 5 cupcakes at a cost of ₹30 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  35. 35.Zoya makes 25 paper bookmarks at a cost of ₹29 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  36. 36.True or false: “the price you sell at” is the selling price. (a) False (b) True
  37. 37.Nisha makes 16 bags of popcorn at a cost of ₹33 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  38. 38.📉 When is there a loss? (a) always (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  39. 39.It costs ₹41 to make one bag of popcorn. On the last day Rohan sells it for only ₹40. How much is the loss on one (in ₹)?
  40. 40.One handmade card costs Tara ₹40 to make and sells for ₹26. Is that a profit or a loss? (a) Loss (b) Profit

Answer key

  1. False
  2. 28
  3. 8
  4. Loss
  5. 31
  6. cost price
  7. 1
  8. Profit
  9. 18
  10. cost price
  11. True
  12. Loss
  13. 13
  14. False
  15. 48
  16. what it cost you
  17. True
  18. True
  19. False
  20. 20
  21. selling price
  22. 7
  23. 7
  24. selling price
  25. 17
  26. cost price
  27. Loss
  28. 8
  29. 40
  30. 3
  31. selling price
  32. what the buyer pays
  33. True
  34. 65
  35. 350
  36. True
  37. 160
  38. SP less than CP
  39. 1
  40. Loss

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