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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 621 · 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.

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  1. 1.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  2. 2.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  3. 3.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  4. 4.True or false: “what a customer pays” is the selling price. (a) False (b) True
  5. 5.It costs ₹37 to make one glass of chai. Farhan sells it for ₹54. What is the profit on one (in ₹)?
  6. 6.It costs ₹58 to make one jute bag. On the last day Riya sells it for only ₹54. How much is the loss on one (in ₹)?
  7. 7.It costs ₹13 to make one cup of lemonade. Zoya sells it for ₹32. What is the profit on one (in ₹)?
  8. 8.It costs ₹25 to make one bag of popcorn. On the last day Arjun sells it for only ₹18. How much is the loss on one (in ₹)?
  9. 9.One bag of popcorn costs ₹25 to make. Lakshmi wants a profit of ₹13 on each. What should the selling price be (in ₹)?
  10. 10.It costs ₹36 to make one bag of popcorn. On the last day Ishaan sells it for only ₹33. How much is the loss on one (in ₹)?
  11. 11.True or false: “money spent to get it” is the selling price. (a) True (b) False
  12. 12.It costs ₹7 to make one handmade card. Meera sells it for ₹17. What is the profit on one (in ₹)?
  13. 13.It costs ₹38 to make one cup of lemonade. Ananya sells it for ₹40. What is the profit on one (in ₹)?
  14. 14.Diya makes 8 fruit cups at a cost of ₹22 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  15. 15.True or false: “the price you sell at” is the selling price. (a) True (b) False
  16. 16.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  17. 17.It costs ₹29 to make one potted plant. On the last day Rohan sells it for only ₹24. How much is the loss on one (in ₹)?
  18. 18.📉 When is there a loss? (a) SP equal to CP (b) always (c) SP more than CP (d) SP less than CP
  19. 19.One friendship band costs ₹12 to make. Tara wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  20. 20.One cupcake costs ₹36 to make. Kabir wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  21. 21.It costs ₹52 to make one friendship band. Gurpreet sells it for ₹71. What is the profit on one (in ₹)?
  22. 22.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  23. 23.True or false: “the price on your board” is the selling price. (a) False (b) True
  24. 24.It costs ₹31 to make one glass of chai. Ananya sells it for ₹37. What is the profit on one (in ₹)?
  25. 25.One fruit cup costs ₹54 to make. Joseph wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  26. 26.💵 Selling price means… (a) the stall fee (b) what the buyer pays (c) what it cost you (d) the loss
  27. 27.True or false: “money got from a sale” is the selling price. (a) False (b) True
  28. 28.It costs ₹54 to make one fruit cup. On the last day Vihaan sells it for only ₹47. How much is the loss on one (in ₹)?
  29. 29.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  30. 30.One glass of chai costs Gurpreet ₹17 to make and sells for ₹13. Is that a profit or a loss? (a) Profit (b) Loss
  31. 31.It costs ₹35 to make one friendship band. Ananya sells it for ₹39. What is the profit on one (in ₹)?
  32. 32.🏷️ Cost price means… (a) the profit (b) what it cost you (c) what the buyer pays (d) the discount
  33. 33.True or false: “what you paid for it” is the cost price. (a) True (b) False
  34. 34.📈 When is there a profit? (a) SP less than CP (b) SP more than CP (c) never (d) SP equal to CP
  35. 35.One paper bookmark costs Tara ₹20 to make and sells for ₹19. Is that a profit or a loss? (a) Profit (b) Loss
  36. 36.True or false: “cost of making one” is the cost price. (a) False (b) True
  37. 37.Rohan makes 16 friendship bands at a cost of ₹16 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  38. 38.True or false: “cost of making one” is the selling price. (a) False (b) True
  39. 39.One bag of popcorn costs Saanvi ₹55 to make and sells for ₹46. Is that a profit or a loss? (a) Loss (b) Profit
  40. 40.Kavya makes 25 potted plants at a cost of ₹12 each and sells all of them at ₹20 each. What is the total profit (in ₹)?

Answer key

  1. selling price
  2. cost price
  3. cost price
  4. True
  5. 17
  6. 4
  7. 19
  8. 7
  9. 38
  10. 3
  11. False
  12. 10
  13. 2
  14. 72
  15. True
  16. selling price
  17. 5
  18. SP less than CP
  19. 16
  20. 39
  21. 19
  22. False
  23. True
  24. 6
  25. 56
  26. what the buyer pays
  27. True
  28. 7
  29. cost price
  30. Loss
  31. 4
  32. what it cost you
  33. True
  34. SP more than CP
  35. Loss
  36. True
  37. 64
  38. False
  39. Loss
  40. 200

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