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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 551 · 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.💵 Selling price means… (a) the loss (b) the stall fee (c) what it cost you (d) what the buyer pays
  2. 2.🏷️ Cost price means… (a) what the buyer pays (b) what it cost you (c) the discount (d) the profit
  3. 3.True or false: “what a customer pays” is the cost price. (a) True (b) False
  4. 4.One cup of lemonade costs ₹30 to make. Kavya wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  5. 5.True or false: “cost of making one” is the selling price. (a) True (b) False
  6. 6.It costs ₹28 to make one painted pebble. Joseph sells it for ₹36. What is the profit on one (in ₹)?
  7. 7.It costs ₹49 to make one cup of lemonade. Vihaan sells it for ₹65. What is the profit on one (in ₹)?
  8. 8.It costs ₹24 to make one paper bookmark. On the last day Farhan sells it for only ₹23. How much is the loss on one (in ₹)?
  9. 9.True or false: “money spent to get it” is the cost price. (a) True (b) False
  10. 10.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  11. 11.One jute bag costs ₹36 to make. Vihaan wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  12. 12.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  13. 13.One paper bookmark costs Riya ₹19 to make and sells for ₹20. Is that a profit or a loss? (a) Loss (b) Profit
  14. 14.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  15. 15.True or false: “money got from a sale” is the selling price. (a) True (b) False
  16. 16.It costs ₹19 to make one jute bag. On the last day Ishaan sells it for only ₹13. How much is the loss on one (in ₹)?
  17. 17.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  18. 18.It costs ₹30 to make one cup of lemonade. Lakshmi sells it for ₹41. What is the profit on one (in ₹)?
  19. 19.Tara makes 28 potted plants at a cost of ₹5 each and sells all of them at ₹13 each. What is the total profit (in ₹)?
  20. 20.One paper bookmark costs Kabir ₹37 to make and sells for ₹35. Is that a profit or a loss? (a) Profit (b) Loss
  21. 21.📉 When is there a loss? (a) SP less than CP (b) SP equal to CP (c) SP more than CP (d) always
  22. 22.One paper bookmark costs Kavya ₹54 to make and sells for ₹50. Is that a profit or a loss? (a) Profit (b) Loss
  23. 23.True or false: “the price you sell at” is the cost price. (a) True (b) False
  24. 24.One glass of chai costs Lakshmi ₹20 to make and sells for ₹30. Is that a profit or a loss? (a) Loss (b) Profit
  25. 25.Lakshmi makes 11 cupcakes at a cost of ₹8 each and sells all of them at ₹11 each. What is the total profit (in ₹)?
  26. 26.It costs ₹24 to make one glass of chai. Gurpreet sells it for ₹32. What is the profit on one (in ₹)?
  27. 27.📈 When is there a profit? (a) SP less than CP (b) SP equal to CP (c) SP more than CP (d) never
  28. 28.One clay diya costs Vihaan ₹28 to make and sells for ₹22. Is that a profit or a loss? (a) Loss (b) Profit
  29. 29.One handmade card costs ₹59 to make. Rohan wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  30. 30.True or false: “the price on your board” is the selling price. (a) True (b) False
  31. 31.It costs ₹60 to make one jute bag. On the last day Zoya sells it for only ₹59. How much is the loss on one (in ₹)?
  32. 32.True or false: “what you paid for it” is the cost price. (a) False (b) True
  33. 33.It costs ₹40 to make one potted plant. On the last day Aarav sells it for only ₹34. How much is the loss on one (in ₹)?
  34. 34.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  35. 35.It costs ₹57 to make one cup of lemonade. On the last day Kavya sells it for only ₹53. How much is the loss on one (in ₹)?
  36. 36.It costs ₹27 to make one friendship band. Arjun sells it for ₹36. What is the profit on one (in ₹)?
  37. 37.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  38. 38.One paper bookmark costs Rohan ₹29 to make and sells for ₹22. Is that a profit or a loss? (a) Loss (b) Profit
  39. 39.It costs ₹24 to make one jute bag. Rohan sells it for ₹28. What is the profit on one (in ₹)?
  40. 40.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price

Answer key

  1. what the buyer pays
  2. what it cost you
  3. False
  4. 38
  5. False
  6. 8
  7. 16
  8. 1
  9. True
  10. cost price
  11. 51
  12. selling price
  13. Profit
  14. selling price
  15. True
  16. 6
  17. cost price
  18. 11
  19. 224
  20. Loss
  21. SP less than CP
  22. Loss
  23. False
  24. Profit
  25. 33
  26. 8
  27. SP more than CP
  28. Loss
  29. 60
  30. True
  31. 1
  32. True
  33. 6
  34. selling price
  35. 4
  36. 9
  37. selling price
  38. Loss
  39. 4
  40. cost price

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