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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 581 · 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: “what you paid for it” is the selling price. (a) True (b) False
  2. 2.True or false: “what a customer pays” is the selling price. (a) True (b) False
  3. 3.Meera makes 11 clay diyas at a cost of ₹35 each and sells all of them at ₹37 each. What is the total profit (in ₹)?
  4. 4.It costs ₹38 to make one glass of chai. Ananya sells it for ₹50. What is the profit on one (in ₹)?
  5. 5.True or false: “the price on your board” is the cost price. (a) True (b) False
  6. 6.💵 Selling price means… (a) what the buyer pays (b) what it cost you (c) the stall fee (d) the loss
  7. 7.Zoya makes 17 friendship bands at a cost of ₹7 each and sells all of them at ₹10 each. What is the total profit (in ₹)?
  8. 8.One bag of popcorn costs ₹43 to make. Ananya wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  9. 9.It costs ₹36 to make one handmade card. Saanvi sells it for ₹37. What is the profit on one (in ₹)?
  10. 10.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  11. 11.One bag of popcorn costs ₹59 to make. Kavya wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  12. 12.It costs ₹10 to make one paper bookmark. Tara sells it for ₹18. What is the profit on one (in ₹)?
  13. 13.One handmade card costs Tara ₹16 to make and sells for ₹8. Is that a profit or a loss? (a) Profit (b) Loss
  14. 14.📉 When is there a loss? (a) always (b) SP equal to CP (c) SP more than CP (d) SP less than CP
  15. 15.True or false: “cost of making one” is the selling price. (a) True (b) False
  16. 16.One handmade card costs Riya ₹23 to make and sells for ₹10. Is that a profit or a loss? (a) Profit (b) Loss
  17. 17.One cupcake costs Kabir ₹27 to make and sells for ₹31. Is that a profit or a loss? (a) Loss (b) Profit
  18. 18.Diya makes 21 jute bags at a cost of ₹25 each and sells all of them at ₹40 each. What is the total profit (in ₹)?
  19. 19.One glass of chai costs ₹14 to make. Saanvi wants a profit of ₹9 on each. What should the selling price be (in ₹)?
  20. 20.It costs ₹44 to make one jute bag. Kabir sells it for ₹47. What is the profit on one (in ₹)?
  21. 21.One jute bag costs Farhan ₹37 to make and sells for ₹27. Is that a profit or a loss? (a) Profit (b) Loss
  22. 22.🏷️ Cost price means… (a) what the buyer pays (b) the discount (c) the profit (d) what it cost you
  23. 23.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  24. 24.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) never
  25. 25.One glass of chai costs ₹22 to make. Lakshmi wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  26. 26.One clay diya costs Rohan ₹33 to make and sells for ₹38. Is that a profit or a loss? (a) Profit (b) Loss
  27. 27.One glass of chai costs Rohan ₹35 to make and sells for ₹33. Is that a profit or a loss? (a) Profit (b) Loss
  28. 28.True or false: “money got from a sale” is the cost price. (a) False (b) True
  29. 29.True or false: “the price you sell at” is the cost price. (a) False (b) True
  30. 30.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  31. 31.True or false: “the price you sell at” is the selling price. (a) False (b) True
  32. 32.One handmade card costs Farhan ₹25 to make and sells for ₹34. Is that a profit or a loss? (a) Loss (b) Profit
  33. 33.One clay diya costs ₹38 to make. Zoya wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  34. 34.True or false: “the price on your board” is the selling price. (a) True (b) False
  35. 35.It costs ₹7 to make one painted pebble. Ananya sells it for ₹25. What is the profit on one (in ₹)?
  36. 36.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  37. 37.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  38. 38.Ananya makes 14 painted pebbles at a cost of ₹21 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  39. 39.True or false: “what you paid for it” is the cost price. (a) False (b) True
  40. 40.Riya makes 18 friendship bands at a cost of ₹19 each and sells all of them at ₹30 each. What is the total profit (in ₹)?

Answer key

  1. False
  2. True
  3. 22
  4. 12
  5. False
  6. what the buyer pays
  7. 51
  8. 47
  9. 1
  10. cost price
  11. 71
  12. 8
  13. Loss
  14. SP less than CP
  15. False
  16. Loss
  17. Profit
  18. 315
  19. 23
  20. 3
  21. Loss
  22. what it cost you
  23. selling price
  24. SP more than CP
  25. 39
  26. Profit
  27. Loss
  28. False
  29. False
  30. cost price
  31. True
  32. Profit
  33. 40
  34. True
  35. 18
  36. selling price
  37. selling price
  38. 182
  39. True
  40. 198

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