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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 658 · 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 the buyer pays (b) the profit (c) the discount (d) what it cost you
  2. 2.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  3. 3.True or false: “cost of making one” is the cost price. (a) True (b) False
  4. 4.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  5. 5.It costs ₹43 to make one cupcake. On the last day Tara sells it for only ₹38. How much is the loss on one (in ₹)?
  6. 6.It costs ₹40 to make one cupcake. On the last day Farhan sells it for only ₹35. How much is the loss on one (in ₹)?
  7. 7.True or false: “what a customer pays” is the selling price. (a) True (b) False
  8. 8.Ishaan makes 12 handmade cards at a cost of ₹36 each and sells all of them at ₹45 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.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  11. 11.True or false: “cost of making one” is the selling price. (a) True (b) False
  12. 12.Kavya makes 5 handmade cards at a cost of ₹32 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  13. 13.📉 When is there a loss? (a) always (b) SP equal to CP (c) SP more than CP (d) SP less than CP
  14. 14.True or false: “money got from a sale” is the cost price. (a) False (b) True
  15. 15.True or false: “money got from a sale” is the selling price. (a) False (b) True
  16. 16.One clay diya costs Meera ₹38 to make and sells for ₹33. Is that a profit or a loss? (a) Loss (b) Profit
  17. 17.📈 When is there a profit? (a) SP less than CP (b) never (c) SP more than CP (d) SP equal to CP
  18. 18.One potted plant costs ₹17 to make. Vihaan wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  19. 19.It costs ₹14 to make one clay diya. On the last day Kabir sells it for only ₹13. How much is the loss on one (in ₹)?
  20. 20.It costs ₹18 to make one handmade card. Kavya sells it for ₹35. What is the profit on one (in ₹)?
  21. 21.One cupcake costs Meera ₹30 to make and sells for ₹15. Is that a profit or a loss? (a) Profit (b) Loss
  22. 22.It costs ₹30 to make one painted pebble. On the last day Tara sells it for only ₹20. How much is the loss on one (in ₹)?
  23. 23.One glass of chai costs ₹52 to make. Ananya wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  24. 24.One fruit cup costs Diya ₹18 to make and sells for ₹21. Is that a profit or a loss? (a) Profit (b) Loss
  25. 25.It costs ₹8 to make one glass of chai. Ishaan sells it for ₹28. What is the profit on one (in ₹)?
  26. 26.True or false: “what a customer pays” is the cost price. (a) True (b) False
  27. 27.One bag of popcorn costs Kavya ₹32 to make and sells for ₹34. Is that a profit or a loss? (a) Loss (b) Profit
  28. 28.True or false: “the price on your board” is the cost price. (a) True (b) False
  29. 29.True or false: “money spent to get it” is the selling price. (a) True (b) False
  30. 30.It costs ₹25 to make one painted pebble. On the last day Farhan sells it for only ₹23. How much is the loss on one (in ₹)?
  31. 31.Farhan makes 7 painted pebbles at a cost of ₹25 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  32. 32.True or false: “money spent to get it” is the cost price. (a) False (b) True
  33. 33.One jute bag costs ₹16 to make. Rohan wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  34. 34.True or false: “what you paid for it” is the selling price. (a) False (b) True
  35. 35.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  36. 36.It costs ₹40 to make one handmade card. On the last day Gurpreet sells it for only ₹38. How much is the loss on one (in ₹)?
  37. 37.One jute bag costs ₹24 to make. Nisha wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  38. 38.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  39. 39.It costs ₹55 to make one fruit cup. On the last day Riya sells it for only ₹54. How much is the loss on one (in ₹)?
  40. 40.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price

Answer key

  1. what it cost you
  2. cost price
  3. True
  4. cost price
  5. 5
  6. 5
  7. True
  8. 108
  9. True
  10. selling price
  11. False
  12. 35
  13. SP less than CP
  14. False
  15. True
  16. Loss
  17. SP more than CP
  18. 25
  19. 1
  20. 17
  21. Loss
  22. 10
  23. 54
  24. Profit
  25. 20
  26. False
  27. Profit
  28. False
  29. False
  30. 2
  31. 42
  32. True
  33. 36
  34. False
  35. True
  36. 2
  37. 32
  38. cost price
  39. 1
  40. selling price

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