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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 593 · 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: “the wholesale price paid” is the selling price. (a) True (b) False
  2. 2.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  3. 3.Diya makes 23 glasses of chai at a cost of ₹27 each and sells all of them at ₹32 each. What is the total profit (in ₹)?
  4. 4.Joseph makes 7 handmade cards at a cost of ₹27 each and sells all of them at ₹32 each. What is the total profit (in ₹)?
  5. 5.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  6. 6.One paper bookmark costs Farhan ₹46 to make and sells for ₹60. Is that a profit or a loss? (a) Profit (b) Loss
  7. 7.One potted plant costs ₹48 to make. Riya wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  8. 8.It costs ₹33 to make one fruit cup. On the last day Kabir sells it for only ₹32. How much is the loss on one (in ₹)?
  9. 9.💵 Selling price means… (a) what the buyer pays (b) what it cost you (c) the loss (d) the stall fee
  10. 10.True or false: “money got from a sale” is the cost price. (a) False (b) True
  11. 11.It costs ₹43 to make one jute bag. On the last day Lakshmi sells it for only ₹40. How much is the loss on one (in ₹)?
  12. 12.🏷️ Cost price means… (a) the discount (b) what it cost you (c) what the buyer pays (d) the profit
  13. 13.It costs ₹47 to make one paper bookmark. On the last day Meera sells it for only ₹40. How much is the loss on one (in ₹)?
  14. 14.One bag of popcorn costs Farhan ₹49 to make and sells for ₹45. Is that a profit or a loss? (a) Profit (b) Loss
  15. 15.📉 When is there a loss? (a) SP equal to CP (b) SP less than CP (c) always (d) SP more than CP
  16. 16.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  17. 17.True or false: “what a customer pays” is the cost price. (a) False (b) True
  18. 18.Ananya makes 9 glasses of chai at a cost of ₹38 each and sells all of them at ₹52 each. What is the total profit (in ₹)?
  19. 19.It costs ₹56 to make one glass of chai. Ananya sells it for ₹68. What is the profit on one (in ₹)?
  20. 20.True or false: “what a customer pays” is the selling price. (a) False (b) True
  21. 21.One paper bookmark costs ₹34 to make. Farhan wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  22. 22.True or false: “cost of making one” is the cost price. (a) False (b) True
  23. 23.It costs ₹41 to make one potted plant. Saanvi sells it for ₹56. What is the profit on one (in ₹)?
  24. 24.True or false: “cost of making one” is the selling price. (a) True (b) False
  25. 25.Ananya makes 13 bags of popcorn at a cost of ₹25 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  26. 26.📈 When is there a profit? (a) never (b) SP less than CP (c) SP more than CP (d) SP equal to CP
  27. 27.It costs ₹58 to make one bag of popcorn. On the last day Lakshmi sells it for only ₹52. How much is the loss on one (in ₹)?
  28. 28.It costs ₹42 to make one handmade card. Zoya sells it for ₹48. What is the profit on one (in ₹)?
  29. 29.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  30. 30.True or false: “money spent to get it” is the selling price. (a) False (b) True
  31. 31.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  32. 32.One cupcake costs Ananya ₹42 to make and sells for ₹32. Is that a profit or a loss? (a) Profit (b) Loss
  33. 33.Aarav makes 20 bags of popcorn at a cost of ₹23 each and sells all of them at ₹25 each. What is the total profit (in ₹)?
  34. 34.One fruit cup costs Meera ₹17 to make and sells for ₹9. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.One glass of chai costs ₹17 to make. Aarav wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  36. 36.True or false: “what you paid for it” is the cost price. (a) True (b) False
  37. 37.True or false: “what you paid for it” is the selling price. (a) False (b) True
  38. 38.It costs ₹20 to make one painted pebble. On the last day Kabir sells it for only ₹12. How much is the loss on one (in ₹)?
  39. 39.One potted plant costs Vihaan ₹16 to make and sells for ₹6. Is that a profit or a loss? (a) Loss (b) Profit
  40. 40.It costs ₹10 to make one bag of popcorn. Rohan sells it for ₹12. What is the profit on one (in ₹)?

Answer key

  1. False
  2. True
  3. 115
  4. 35
  5. cost price
  6. Profit
  7. 65
  8. 1
  9. what the buyer pays
  10. False
  11. 3
  12. what it cost you
  13. 7
  14. Loss
  15. SP less than CP
  16. cost price
  17. False
  18. 126
  19. 12
  20. True
  21. 54
  22. True
  23. 15
  24. False
  25. 117
  26. SP more than CP
  27. 6
  28. 6
  29. selling price
  30. False
  31. cost price
  32. Loss
  33. 40
  34. Loss
  35. 35
  36. True
  37. False
  38. 8
  39. Loss
  40. 2

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