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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 599 · 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.🏷️ Cost price means… (a) what it cost you (b) the profit (c) what the buyer pays (d) the discount
  2. 2.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  3. 3.True or false: “money spent to get it” is the cost price. (a) True (b) False
  4. 4.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  5. 5.It costs ₹35 to make one cup of lemonade. Vihaan sells it for ₹49. What is the profit on one (in ₹)?
  6. 6.True or false: “cost of making one” is the cost price. (a) True (b) False
  7. 7.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  8. 8.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) SP equal to CP (d) never
  9. 9.It costs ₹26 to make one painted pebble. Vihaan sells it for ₹46. What is the profit on one (in ₹)?
  10. 10.One bag of popcorn costs Dev ₹23 to make and sells for ₹11. Is that a profit or a loss? (a) Profit (b) Loss
  11. 11.Tara makes 7 clay diyas at a cost of ₹24 each and sells all of them at ₹28 each. What is the total profit (in ₹)?
  12. 12.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  13. 13.It costs ₹30 to make one painted pebble. Rohan sells it for ₹31. What is the profit on one (in ₹)?
  14. 14.True or false: “money spent to get it” is the selling price. (a) False (b) True
  15. 15.One friendship band costs Joseph ₹31 to make and sells for ₹29. Is that a profit or a loss? (a) Profit (b) Loss
  16. 16.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  17. 17.True or false: “what you paid for it” is the selling price. (a) False (b) True
  18. 18.One cupcake costs ₹12 to make. Riya wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  19. 19.One fruit cup costs Gurpreet ₹51 to make and sells for ₹38. Is that a profit or a loss? (a) Profit (b) Loss
  20. 20.Diya makes 21 fruit cups at a cost of ₹12 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  21. 21.💵 Selling price means… (a) the stall fee (b) what the buyer pays (c) what it cost you (d) the loss
  22. 22.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  23. 23.Riya makes 18 potted plants at a cost of ₹18 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  24. 24.One potted plant costs Rohan ₹23 to make and sells for ₹34. Is that a profit or a loss? (a) Loss (b) Profit
  25. 25.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  26. 26.📉 When is there a loss? (a) always (b) SP less than CP (c) SP more than CP (d) SP equal to CP
  27. 27.It costs ₹22 to make one handmade card. On the last day Aarav sells it for only ₹14. How much is the loss on one (in ₹)?
  28. 28.One clay diya costs ₹30 to make. Dev wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  29. 29.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  30. 30.One painted pebble costs Ananya ₹22 to make and sells for ₹14. Is that a profit or a loss? (a) Profit (b) Loss
  31. 31.One cup of lemonade costs Nisha ₹37 to make and sells for ₹41. Is that a profit or a loss? (a) Profit (b) Loss
  32. 32.One painted pebble costs Ananya ₹29 to make and sells for ₹23. Is that a profit or a loss? (a) Profit (b) Loss
  33. 33.Riya makes 19 glasses of chai at a cost of ₹12 each and sells all of them at ₹27 each. What is the total profit (in ₹)?
  34. 34.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  35. 35.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  36. 36.Ishaan makes 6 bags of popcorn at a cost of ₹32 each and sells all of them at ₹46 each. What is the total profit (in ₹)?
  37. 37.It costs ₹40 to make one clay diya. Kabir sells it for ₹45. What is the profit on one (in ₹)?
  38. 38.It costs ₹39 to make one cupcake. On the last day Rohan sells it for only ₹30. How much is the loss on one (in ₹)?
  39. 39.It costs ₹7 to make one paper bookmark. Riya sells it for ₹13. What is the profit on one (in ₹)?
  40. 40.It costs ₹17 to make one paper bookmark. Gurpreet sells it for ₹18. What is the profit on one (in ₹)?

Answer key

  1. what it cost you
  2. cost price
  3. True
  4. cost price
  5. 14
  6. True
  7. cost price
  8. SP more than CP
  9. 20
  10. Loss
  11. 28
  12. selling price
  13. 1
  14. False
  15. Loss
  16. selling price
  17. False
  18. 24
  19. Loss
  20. 168
  21. what the buyer pays
  22. True
  23. 36
  24. Profit
  25. False
  26. SP less than CP
  27. 8
  28. 48
  29. selling price
  30. Loss
  31. Profit
  32. Loss
  33. 285
  34. cost price
  35. selling price
  36. 84
  37. 5
  38. 9
  39. 6
  40. 1

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