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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 6 · 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) the discount (b) the profit (c) what it cost you (d) what the buyer pays
  2. 2.It costs ₹44 to make one bag of popcorn. On the last day Saanvi sells it for only ₹35. How much is the loss on one (in ₹)?
  3. 3.True or false: “what a customer pays” is the cost price. (a) True (b) False
  4. 4.It costs ₹40 to make one jute bag. On the last day Joseph sells it for only ₹34. How much is the loss on one (in ₹)?
  5. 5.📈 When is there a profit? (a) never (b) SP more than CP (c) SP less than CP (d) SP equal to CP
  6. 6.It costs ₹26 to make one fruit cup. On the last day Kavya sells it for only ₹22. How much is the loss on one (in ₹)?
  7. 7.True or false: “cost of making one” is the selling price. (a) False (b) True
  8. 8.True or false: “what a customer pays” is the selling price. (a) True (b) False
  9. 9.True or false: “money spent to get it” is the cost price. (a) False (b) True
  10. 10.Riya makes 25 painted pebbles at a cost of ₹6 each and sells all of them at ₹17 each. What is the total profit (in ₹)?
  11. 11.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  12. 12.One clay diya costs ₹14 to make. Aarav wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  13. 13.One bag of popcorn costs ₹30 to make. Meera wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  14. 14.One bag of popcorn costs Lakshmi ₹27 to make and sells for ₹23. Is that a profit or a loss? (a) Profit (b) Loss
  15. 15.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  16. 16.It costs ₹59 to make one clay diya. Diya sells it for ₹71. What is the profit on one (in ₹)?
  17. 17.💵 Selling price means… (a) what it cost you (b) the stall fee (c) the loss (d) what the buyer pays
  18. 18.It costs ₹61 to make one glass of chai. On the last day Saanvi sells it for only ₹60. How much is the loss on one (in ₹)?
  19. 19.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  20. 20.True or false: “money spent to get it” is the selling price. (a) True (b) False
  21. 21.True or false: “money got from a sale” is the selling price. (a) True (b) False
  22. 22.True or false: “what you paid for it” is the selling price. (a) True (b) False
  23. 23.📉 When is there a loss? (a) SP more than CP (b) always (c) SP less than CP (d) SP equal to CP
  24. 24.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  25. 25.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  26. 26.One friendship band costs ₹31 to make. Riya wants a profit of ₹7 on each. What should the selling price be (in ₹)?
  27. 27.True or false: “cost of making one” is the cost price. (a) True (b) False
  28. 28.Joseph makes 12 friendship bands at a cost of ₹12 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  29. 29.It costs ₹49 to make one paper bookmark. Zoya sells it for ₹56. What is the profit on one (in ₹)?
  30. 30.One bag of popcorn costs Diya ₹59 to make and sells for ₹64. Is that a profit or a loss? (a) Profit (b) Loss
  31. 31.Saanvi makes 7 jute bags at a cost of ₹14 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  32. 32.One painted pebble costs Gurpreet ₹25 to make and sells for ₹28. Is that a profit or a loss? (a) Loss (b) Profit
  33. 33.It costs ₹31 to make one cup of lemonade. On the last day Tara sells it for only ₹22. How much is the loss on one (in ₹)?
  34. 34.It costs ₹20 to make one glass of chai. On the last day Farhan sells it for only ₹18. How much is the loss on one (in ₹)?
  35. 35.It costs ₹7 to make one jute bag. Aarav sells it for ₹12. What is the profit on one (in ₹)?
  36. 36.It costs ₹39 to make one clay diya. Farhan sells it for ₹55. What is the profit on one (in ₹)?
  37. 37.It costs ₹58 to make one glass of chai. Meera sells it for ₹74. What is the profit on one (in ₹)?
  38. 38.True or false: “the price you sell at” is the cost price. (a) True (b) False
  39. 39.Riya makes 16 clay diyas at a cost of ₹19 each and sells all of them at ₹22 each. What is the total profit (in ₹)?
  40. 40.It costs ₹51 to make one handmade card. On the last day Zoya sells it for only ₹45. How much is the loss on one (in ₹)?

Answer key

  1. what it cost you
  2. 9
  3. False
  4. 6
  5. SP more than CP
  6. 4
  7. False
  8. True
  9. True
  10. 275
  11. cost price
  12. 34
  13. 48
  14. Loss
  15. selling price
  16. 12
  17. what the buyer pays
  18. 1
  19. False
  20. False
  21. True
  22. False
  23. SP less than CP
  24. cost price
  25. cost price
  26. 38
  27. True
  28. 168
  29. 7
  30. Profit
  31. 49
  32. Profit
  33. 9
  34. 2
  35. 5
  36. 16
  37. 16
  38. False
  39. 48
  40. 6

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