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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 60 · 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 or selling price: cost of making one? (a) selling price (b) cost price
  2. 2.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  3. 3.It costs ₹8 to make one cup of lemonade. Arjun sells it for ₹13. What is the profit on one (in ₹)?
  4. 4.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  5. 5.True or false: “the price on your board” is the cost price. (a) True (b) False
  6. 6.True or false: “money spent to get it” is the selling price. (a) True (b) False
  7. 7.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  8. 8.One handmade card costs ₹60 to make. Kavya wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  9. 9.One friendship band costs Vihaan ₹26 to make and sells for ₹41. Is that a profit or a loss? (a) Profit (b) Loss
  10. 10.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  11. 11.📈 When is there a profit? (a) never (b) SP more than CP (c) SP less than CP (d) SP equal to CP
  12. 12.One glass of chai costs ₹50 to make. Diya wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  13. 13.One clay diya costs ₹41 to make. Farhan wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  14. 14.One glass of chai costs Farhan ₹31 to make and sells for ₹16. Is that a profit or a loss? (a) Loss (b) Profit
  15. 15.True or false: “cost of making one” is the selling price. (a) False (b) True
  16. 16.💵 Selling price means… (a) the stall fee (b) what it cost you (c) what the buyer pays (d) the loss
  17. 17.One potted plant costs Kavya ₹49 to make and sells for ₹62. Is that a profit or a loss? (a) Profit (b) Loss
  18. 18.🏷️ Cost price means… (a) the profit (b) the discount (c) what it cost you (d) what the buyer pays
  19. 19.True or false: “the price you sell at” is the cost price. (a) True (b) False
  20. 20.It costs ₹42 to make one friendship band. On the last day Joseph sells it for only ₹33. How much is the loss on one (in ₹)?
  21. 21.It costs ₹41 to make one paper bookmark. Kavya sells it for ₹44. What is the profit on one (in ₹)?
  22. 22.True or false: “what you paid for it” is the selling price. (a) True (b) False
  23. 23.It costs ₹49 to make one potted plant. On the last day Rohan sells it for only ₹46. How much is the loss on one (in ₹)?
  24. 24.It costs ₹53 to make one clay diya. On the last day Gurpreet sells it for only ₹51. How much is the loss on one (in ₹)?
  25. 25.One glass of chai costs Kabir ₹30 to make and sells for ₹28. Is that a profit or a loss? (a) Profit (b) Loss
  26. 26.True or false: “cost of making one” is the cost price. (a) True (b) False
  27. 27.One friendship band costs ₹57 to make. Nisha wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  28. 28.One painted pebble costs ₹35 to make. Nisha wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  29. 29.It costs ₹42 to make one painted pebble. On the last day Joseph sells it for only ₹39. How much is the loss on one (in ₹)?
  30. 30.It costs ₹8 to make one cup of lemonade. Joseph sells it for ₹21. What is the profit on one (in ₹)?
  31. 31.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  32. 32.One cup of lemonade costs ₹37 to make. Rohan wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  33. 33.One friendship band costs ₹47 to make. Dev wants a profit of ₹19 on each. What should the selling price be (in ₹)?
  34. 34.Nisha makes 15 clay diyas at a cost of ₹12 each and sells all of them at ₹16 each. What is the total profit (in ₹)?
  35. 35.It costs ₹45 to make one potted plant. Meera sells it for ₹48. What is the profit on one (in ₹)?
  36. 36.It costs ₹60 to make one painted pebble. Riya sells it for ₹61. What is the profit on one (in ₹)?
  37. 37.One painted pebble costs Lakshmi ₹22 to make and sells for ₹16. Is that a profit or a loss? (a) Loss (b) Profit
  38. 38.True or false: “money spent to get it” is the cost price. (a) True (b) False
  39. 39.One cup of lemonade costs ₹55 to make. Meera wants a profit of ₹10 on each. What should the selling price be (in ₹)?
  40. 40.One paper bookmark costs ₹16 to make. Ishaan wants a profit of ₹11 on each. What should the selling price be (in ₹)?

Answer key

  1. cost price
  2. cost price
  3. 5
  4. True
  5. False
  6. False
  7. False
  8. 80
  9. Profit
  10. selling price
  11. SP more than CP
  12. 55
  13. 55
  14. Loss
  15. False
  16. what the buyer pays
  17. Profit
  18. what it cost you
  19. False
  20. 9
  21. 3
  22. False
  23. 3
  24. 2
  25. Loss
  26. True
  27. 72
  28. 36
  29. 3
  30. 13
  31. selling price
  32. 39
  33. 66
  34. 60
  35. 3
  36. 1
  37. Loss
  38. True
  39. 65
  40. 27

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