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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 786 · 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.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  2. 2.📈 When is there a profit? (a) SP equal to CP (b) SP less than CP (c) SP more than CP (d) never
  3. 3.Gurpreet makes 24 handmade cards at a cost of ₹37 each and sells all of them at ₹51 each. What is the total profit (in ₹)?
  4. 4.One clay diya costs ₹31 to make. Riya wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  5. 5.Farhan makes 30 painted pebbles at a cost of ₹20 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  6. 6.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  7. 7.True or false: “what a customer pays” is the cost price. (a) False (b) True
  8. 8.One painted pebble costs ₹33 to make. Nisha wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  9. 9.It costs ₹66 to make one handmade card. On the last day Gurpreet sells it for only ₹59. How much is the loss on one (in ₹)?
  10. 10.It costs ₹22 to make one fruit cup. Gurpreet sells it for ₹34. What is the profit on one (in ₹)?
  11. 11.One bag of popcorn costs ₹16 to make. Kavya wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  12. 12.True or false: “cost of making one” is the cost price. (a) False (b) True
  13. 13.One paper bookmark costs ₹51 to make. Riya wants a profit of ₹5 on each. What should the selling price be (in ₹)?
  14. 14.True or false: “what you paid for it” is the selling price. (a) False (b) True
  15. 15.Diya makes 7 cupcakes at a cost of ₹20 each and sells all of them at ₹23 each. What is the total profit (in ₹)?
  16. 16.Dev makes 11 glasses of chai at a cost of ₹16 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  17. 17.💵 Selling price means… (a) the stall fee (b) what it cost you (c) the loss (d) what the buyer pays
  18. 18.One glass of chai costs Lakshmi ₹48 to make and sells for ₹46. Is that a profit or a loss? (a) Loss (b) Profit
  19. 19.It costs ₹16 to make one handmade card. On the last day Aarav sells it for only ₹7. How much is the loss on one (in ₹)?
  20. 20.True or false: “the price on your board” is the selling price. (a) False (b) True
  21. 21.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  22. 22.It costs ₹49 to make one handmade card. On the last day Ishaan sells it for only ₹41. How much is the loss on one (in ₹)?
  23. 23.It costs ₹22 to make one glass of chai. Arjun sells it for ₹33. What is the profit on one (in ₹)?
  24. 24.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  25. 25.It costs ₹42 to make one friendship band. On the last day Dev sells it for only ₹40. How much is the loss on one (in ₹)?
  26. 26.One fruit cup costs Lakshmi ₹45 to make and sells for ₹41. Is that a profit or a loss? (a) Profit (b) Loss
  27. 27.True or false: “cost of making one” is the selling price. (a) False (b) True
  28. 28.🏷️ Cost price means… (a) the discount (b) what it cost you (c) what the buyer pays (d) the profit
  29. 29.One handmade card costs Arjun ₹32 to make and sells for ₹21. Is that a profit or a loss? (a) Loss (b) Profit
  30. 30.Dev makes 13 glasses of chai at a cost of ₹10 each and sells all of them at ₹24 each. What is the total profit (in ₹)?
  31. 31.One painted pebble costs ₹47 to make. Diya wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  32. 32.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  33. 33.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  34. 34.It costs ₹46 to make one paper bookmark. Joseph sells it for ₹54. What is the profit on one (in ₹)?
  35. 35.📉 When is there a loss? (a) always (b) SP equal to CP (c) SP less than CP (d) SP more than CP
  36. 36.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  37. 37.True or false: “the price on your board” is the cost price. (a) False (b) True
  38. 38.True or false: “money spent to get it” is the selling price. (a) False (b) True
  39. 39.One jute bag costs Aarav ₹24 to make and sells for ₹17. Is that a profit or a loss? (a) Loss (b) Profit
  40. 40.Saanvi makes 15 clay diyas at a cost of ₹9 each and sells all of them at ₹15 each. What is the total profit (in ₹)?

Answer key

  1. False
  2. SP more than CP
  3. 336
  4. 32
  5. 180
  6. cost price
  7. False
  8. 34
  9. 7
  10. 12
  11. 19
  12. True
  13. 56
  14. False
  15. 21
  16. 44
  17. what the buyer pays
  18. Loss
  19. 9
  20. True
  21. cost price
  22. 8
  23. 11
  24. selling price
  25. 2
  26. Loss
  27. False
  28. what it cost you
  29. Loss
  30. 182
  31. 64
  32. cost price
  33. cost price
  34. 8
  35. SP less than CP
  36. selling price
  37. False
  38. False
  39. Loss
  40. 90

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