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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 68 · 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.Tara makes 29 potted plants at a cost of ₹40 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  2. 2.True or false: “money spent to get it” is the cost price. (a) False (b) True
  3. 3.💵 Selling price means… (a) what the buyer pays (b) the loss (c) what it cost you (d) the stall fee
  4. 4.One jute bag costs ₹7 to make. Saanvi wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  5. 5.🏷️ Cost price means… (a) what it cost you (b) what the buyer pays (c) the discount (d) the profit
  6. 6.One glass of chai costs Vihaan ₹54 to make and sells for ₹56. Is that a profit or a loss? (a) Loss (b) Profit
  7. 7.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  8. 8.One handmade card costs Gurpreet ₹20 to make and sells for ₹13. Is that a profit or a loss? (a) Profit (b) Loss
  9. 9.True or false: “what you paid for it” is the selling price. (a) True (b) False
  10. 10.One cupcake costs Saanvi ₹38 to make and sells for ₹32. Is that a profit or a loss? (a) Loss (b) Profit
  11. 11.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  12. 12.One glass of chai costs ₹49 to make. Farhan wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  13. 13.True or false: “what a customer pays” is the cost price. (a) True (b) False
  14. 14.It costs ₹48 to make one potted plant. Vihaan sells it for ₹51. What is the profit on one (in ₹)?
  15. 15.True or false: “money spent to get it” is the selling price. (a) False (b) True
  16. 16.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  17. 17.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  18. 18.One glass of chai costs ₹55 to make. Joseph wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  19. 19.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  20. 20.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  21. 21.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  22. 22.📈 When is there a profit? (a) never (b) SP more than CP (c) SP equal to CP (d) SP less than CP
  23. 23.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  24. 24.Joseph makes 9 glasses of chai at a cost of ₹28 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  25. 25.One clay diya costs Kabir ₹59 to make and sells for ₹53. Is that a profit or a loss? (a) Loss (b) Profit
  26. 26.It costs ₹18 to make one clay diya. On the last day Tara sells it for only ₹16. How much is the loss on one (in ₹)?
  27. 27.One glass of chai costs ₹21 to make. Tara wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  28. 28.True or false: “the price you sell at” is the selling price. (a) True (b) False
  29. 29.Rohan makes 28 jute bags at a cost of ₹12 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  30. 30.Dev makes 14 painted pebbles at a cost of ₹28 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  31. 31.One handmade card costs ₹59 to make. Diya wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  32. 32.📉 When is there a loss? (a) SP more than CP (b) SP equal to CP (c) always (d) SP less than CP
  33. 33.It costs ₹49 to make one painted pebble. Aarav sells it for ₹68. What is the profit on one (in ₹)?
  34. 34.It costs ₹10 to make one fruit cup. Arjun sells it for ₹13. What is the profit on one (in ₹)?
  35. 35.One cupcake costs Dev ₹20 to make and sells for ₹25. Is that a profit or a loss? (a) Loss (b) Profit
  36. 36.One cup of lemonade costs Vihaan ₹41 to make and sells for ₹39. Is that a profit or a loss? (a) Profit (b) Loss
  37. 37.Farhan makes 22 cups of lemonade at a cost of ₹15 each and sells all of them at ₹24 each. What is the total profit (in ₹)?
  38. 38.One paper bookmark costs Diya ₹56 to make and sells for ₹55. Is that a profit or a loss? (a) Profit (b) Loss
  39. 39.One handmade card costs ₹17 to make. Aarav wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  40. 40.True or false: “the wholesale price paid” is the selling price. (a) False (b) True

Answer key

  1. 87
  2. True
  3. what the buyer pays
  4. 10
  5. what it cost you
  6. Profit
  7. cost price
  8. Loss
  9. False
  10. Loss
  11. cost price
  12. 60
  13. False
  14. 3
  15. False
  16. selling price
  17. cost price
  18. 73
  19. selling price
  20. selling price
  21. True
  22. SP more than CP
  23. selling price
  24. 54
  25. Loss
  26. 2
  27. 41
  28. True
  29. 392
  30. 210
  31. 63
  32. SP less than CP
  33. 19
  34. 3
  35. Profit
  36. Loss
  37. 198
  38. Loss
  39. 31
  40. False

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