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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 583 · 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) False (b) True
  2. 2.It costs ₹50 to make one bag of popcorn. On the last day Ishaan sells it for only ₹42. How much is the loss on one (in ₹)?
  3. 3.True or false: “what you paid for it” is the cost price. (a) False (b) True
  4. 4.One jute bag costs Joseph ₹58 to make and sells for ₹61. Is that a profit or a loss? (a) Profit (b) Loss
  5. 5.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  6. 6.📉 When is there a loss? (a) SP equal to CP (b) always (c) SP more than CP (d) SP less than CP
  7. 7.True or false: “the price you sell at” is the selling price. (a) False (b) True
  8. 8.It costs ₹5 to make one glass of chai. Meera sells it for ₹23. What is the profit on one (in ₹)?
  9. 9.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  10. 10.It costs ₹28 to make one paper bookmark. Ananya sells it for ₹38. What is the profit on one (in ₹)?
  11. 11.💵 Selling price means… (a) the stall fee (b) what the buyer pays (c) what it cost you (d) the loss
  12. 12.Diya makes 18 potted plants at a cost of ₹16 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  13. 13.One glass of chai costs Ananya ₹30 to make and sells for ₹31. Is that a profit or a loss? (a) Profit (b) Loss
  14. 14.One cup of lemonade costs ₹35 to make. Lakshmi wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  15. 15.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  16. 16.It costs ₹40 to make one painted pebble. Kavya sells it for ₹55. What is the profit on one (in ₹)?
  17. 17.It costs ₹58 to make one paper bookmark. On the last day Gurpreet sells it for only ₹48. How much is the loss on one (in ₹)?
  18. 18.One clay diya costs ₹27 to make. Ishaan wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  19. 19.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  20. 20.🏷️ Cost price means… (a) what the buyer pays (b) the discount (c) the profit (d) what it cost you
  21. 21.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  22. 22.It costs ₹20 to make one handmade card. Rohan sells it for ₹37. What is the profit on one (in ₹)?
  23. 23.True or false: “money spent to get it” is the cost price. (a) True (b) False
  24. 24.It costs ₹16 to make one clay diya. Arjun sells it for ₹17. What is the profit on one (in ₹)?
  25. 25.One painted pebble costs Rohan ₹52 to make and sells for ₹44. Is that a profit or a loss? (a) Profit (b) Loss
  26. 26.True or false: “cost of making one” is the selling price. (a) False (b) True
  27. 27.It costs ₹38 to make one handmade card. On the last day Lakshmi sells it for only ₹37. How much is the loss on one (in ₹)?
  28. 28.True or false: “money spent to get it” is the selling price. (a) True (b) False
  29. 29.True or false: “cost of making one” is the cost price. (a) False (b) True
  30. 30.One handmade card costs Lakshmi ₹60 to make and sells for ₹54. Is that a profit or a loss? (a) Loss (b) Profit
  31. 31.True or false: “the price on your board” is the cost price. (a) True (b) False
  32. 32.📈 When is there a profit? (a) SP less than CP (b) never (c) SP equal to CP (d) SP more than CP
  33. 33.True or false: “what a customer pays” is the selling price. (a) True (b) False
  34. 34.One potted plant costs ₹30 to make. Zoya wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  35. 35.True or false: “money got from a sale” is the cost price. (a) True (b) False
  36. 36.It costs ₹18 to make one cup of lemonade. Tara sells it for ₹30. What is the profit on one (in ₹)?
  37. 37.One paper bookmark costs Aarav ₹19 to make and sells for ₹26. Is that a profit or a loss? (a) Profit (b) Loss
  38. 38.It costs ₹42 to make one cup of lemonade. Arjun sells it for ₹51. What is the profit on one (in ₹)?
  39. 39.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  40. 40.One friendship band costs Zoya ₹20 to make and sells for ₹32. Is that a profit or a loss? (a) Profit (b) Loss

Answer key

  1. False
  2. 8
  3. True
  4. Profit
  5. selling price
  6. SP less than CP
  7. True
  8. 18
  9. cost price
  10. 10
  11. what the buyer pays
  12. 90
  13. Profit
  14. 38
  15. cost price
  16. 15
  17. 10
  18. 35
  19. selling price
  20. what it cost you
  21. selling price
  22. 17
  23. True
  24. 1
  25. Loss
  26. False
  27. 1
  28. False
  29. True
  30. Loss
  31. False
  32. SP more than CP
  33. True
  34. 43
  35. False
  36. 12
  37. Profit
  38. 9
  39. cost price
  40. Profit

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