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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 647 · 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) what the buyer pays (c) what it cost you (d) the profit
  2. 2.True or false: “money got from a sale” is the cost price. (a) False (b) True
  3. 3.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  4. 4.True or false: “money spent to get it” is the cost price. (a) False (b) True
  5. 5.It costs ₹13 to make one clay diya. On the last day Gurpreet sells it for only ₹12. How much is the loss on one (in ₹)?
  6. 6.One painted pebble costs ₹52 to make. Riya wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  7. 7.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) never
  8. 8.Diya makes 8 handmade cards at a cost of ₹37 each and sells all of them at ₹41 each. What is the total profit (in ₹)?
  9. 9.True or false: “the price on your board” is the selling price. (a) True (b) False
  10. 10.💵 Selling price means… (a) what it cost you (b) what the buyer pays (c) the loss (d) the stall fee
  11. 11.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  12. 12.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  13. 13.One handmade card costs Arjun ₹43 to make and sells for ₹42. Is that a profit or a loss? (a) Profit (b) Loss
  14. 14.📉 When is there a loss? (a) SP equal to CP (b) always (c) SP less than CP (d) SP more than CP
  15. 15.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  16. 16.One bag of popcorn costs ₹15 to make. Ishaan wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  17. 17.Dev makes 28 friendship bands at a cost of ₹27 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  18. 18.Joseph makes 9 handmade cards at a cost of ₹28 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  19. 19.One cupcake costs Aarav ₹56 to make and sells for ₹57. Is that a profit or a loss? (a) Profit (b) Loss
  20. 20.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  21. 21.Ishaan makes 28 potted plants at a cost of ₹24 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  22. 22.True or false: “the price you sell at” is the selling price. (a) False (b) True
  23. 23.True or false: “money spent to get it” is the selling price. (a) True (b) False
  24. 24.It costs ₹18 to make one friendship band. On the last day Lakshmi sells it for only ₹16. How much is the loss on one (in ₹)?
  25. 25.It costs ₹31 to make one friendship band. Zoya sells it for ₹47. What is the profit on one (in ₹)?
  26. 26.One potted plant costs Joseph ₹30 to make and sells for ₹40. Is that a profit or a loss? (a) Loss (b) Profit
  27. 27.It costs ₹47 to make one potted plant. Diya sells it for ₹57. What is the profit on one (in ₹)?
  28. 28.True or false: “cost of making one” is the cost price. (a) True (b) False
  29. 29.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  30. 30.It costs ₹42 to make one bag of popcorn. On the last day Aarav sells it for only ₹39. How much is the loss on one (in ₹)?
  31. 31.It costs ₹48 to make one paper bookmark. Rohan sells it for ₹61. What is the profit on one (in ₹)?
  32. 32.One glass of chai costs ₹8 to make. Lakshmi wants a profit of ₹9 on each. What should the selling price be (in ₹)?
  33. 33.It costs ₹55 to make one jute bag. On the last day Zoya sells it for only ₹47. How much is the loss on one (in ₹)?
  34. 34.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  35. 35.It costs ₹45 to make one jute bag. On the last day Saanvi sells it for only ₹35. How much is the loss on one (in ₹)?
  36. 36.One glass of chai costs ₹36 to make. Kabir wants a profit of ₹7 on each. What should the selling price be (in ₹)?
  37. 37.It costs ₹39 to make one glass of chai. Diya sells it for ₹53. What is the profit on one (in ₹)?
  38. 38.One painted pebble costs Gurpreet ₹59 to make and sells for ₹61. Is that a profit or a loss? (a) Loss (b) Profit
  39. 39.One handmade card costs Farhan ₹19 to make and sells for ₹18. Is that a profit or a loss? (a) Profit (b) Loss
  40. 40.One glass of chai costs Rohan ₹42 to make and sells for ₹35. Is that a profit or a loss? (a) Loss (b) Profit

Answer key

  1. what it cost you
  2. False
  3. cost price
  4. True
  5. 1
  6. 53
  7. SP more than CP
  8. 32
  9. True
  10. what the buyer pays
  11. cost price
  12. selling price
  13. Loss
  14. SP less than CP
  15. selling price
  16. 27
  17. 336
  18. 135
  19. Profit
  20. cost price
  21. 196
  22. True
  23. False
  24. 2
  25. 16
  26. Profit
  27. 10
  28. True
  29. selling price
  30. 3
  31. 13
  32. 17
  33. 8
  34. False
  35. 10
  36. 43
  37. 14
  38. Profit
  39. Loss
  40. Loss

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