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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 717 · 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.True or false: “the price on your board” is the cost price. (a) True (b) False
  2. 2.🏷️ Cost price or selling price: the price on your board? (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.📉 When is there a loss? (a) SP equal to CP (b) always (c) SP less than CP (d) SP more than CP
  5. 5.💵 Selling price means… (a) the loss (b) what the buyer pays (c) what it cost you (d) the stall fee
  6. 6.It costs ₹9 to make one cupcake. Rohan sells it for ₹25. What is the profit on one (in ₹)?
  7. 7.It costs ₹29 to make one jute bag. Kabir sells it for ₹32. What is the profit on one (in ₹)?
  8. 8.It costs ₹44 to make one friendship band. Farhan sells it for ₹45. What is the profit on one (in ₹)?
  9. 9.One fruit cup costs Kabir ₹46 to make and sells for ₹44. Is that a profit or a loss? (a) Loss (b) Profit
  10. 10.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  11. 11.It costs ₹58 to make one glass of chai. Riya sells it for ₹68. What is the profit on one (in ₹)?
  12. 12.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  13. 13.True or false: “cost of making one” is the cost price. (a) False (b) True
  14. 14.🏷️ Cost price means… (a) what it cost you (b) the profit (c) the discount (d) what the buyer pays
  15. 15.One jute bag costs Saanvi ₹40 to make and sells for ₹55. Is that a profit or a loss? (a) Profit (b) Loss
  16. 16.True or false: “money got from a sale” is the cost price. (a) False (b) True
  17. 17.It costs ₹27 to make one jute bag. Dev sells it for ₹44. What is the profit on one (in ₹)?
  18. 18.True or false: “cost of making one” is the selling price. (a) False (b) True
  19. 19.One potted plant costs ₹59 to make. Nisha wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  20. 20.True or false: “money got from a sale” is the selling price. (a) True (b) False
  21. 21.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  22. 22.It costs ₹49 to make one clay diya. Kavya sells it for ₹62. What is the profit on one (in ₹)?
  23. 23.One glass of chai costs ₹32 to make. Dev wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  24. 24.It costs ₹47 to make one bag of popcorn. Diya sells it for ₹62. What is the profit on one (in ₹)?
  25. 25.It costs ₹42 to make one jute bag. On the last day Ishaan sells it for only ₹38. How much is the loss on one (in ₹)?
  26. 26.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) SP less than CP (d) never
  27. 27.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  28. 28.It costs ₹15 to make one handmade card. On the last day Farhan sells it for only ₹12. How much is the loss on one (in ₹)?
  29. 29.It costs ₹7 to make one clay diya. Lakshmi sells it for ₹22. What is the profit on one (in ₹)?
  30. 30.True or false: “the price you sell at” is the cost price. (a) True (b) False
  31. 31.One handmade card costs Ishaan ₹18 to make and sells for ₹3. Is that a profit or a loss? (a) Profit (b) Loss
  32. 32.One clay diya costs ₹30 to make. Zoya wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  33. 33.Arjun makes 19 clay diyas at a cost of ₹7 each and sells all of them at ₹11 each. What is the total profit (in ₹)?
  34. 34.One jute bag costs ₹21 to make. Arjun wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  35. 35.True or false: “what you paid for it” is the selling price. (a) True (b) False
  36. 36.True or false: “what a customer pays” is the selling price. (a) True (b) False
  37. 37.One fruit cup costs Rohan ₹17 to make and sells for ₹14. Is that a profit or a loss? (a) Profit (b) Loss
  38. 38.It costs ₹22 to make one painted pebble. Nisha sells it for ₹39. What is the profit on one (in ₹)?
  39. 39.One fruit cup costs Lakshmi ₹37 to make and sells for ₹40. Is that a profit or a loss? (a) Loss (b) Profit
  40. 40.True or false: “money spent to get it” is the cost price. (a) True (b) False

Answer key

  1. False
  2. selling price
  3. cost price
  4. SP less than CP
  5. what the buyer pays
  6. 16
  7. 3
  8. 1
  9. Loss
  10. False
  11. 10
  12. True
  13. True
  14. what it cost you
  15. Profit
  16. False
  17. 17
  18. False
  19. 74
  20. True
  21. selling price
  22. 13
  23. 50
  24. 15
  25. 4
  26. SP more than CP
  27. cost price
  28. 3
  29. 15
  30. False
  31. Loss
  32. 31
  33. 76
  34. 22
  35. False
  36. True
  37. Loss
  38. 17
  39. Profit
  40. True

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