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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 815 · 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.🏷️ Cost price means… (a) what it cost you (b) the profit (c) the discount (d) what the buyer pays
  2. 2.True or false: “what you paid for it” is the cost price. (a) True (b) False
  3. 3.One handmade card costs Arjun ₹23 to make and sells for ₹31. Is that a profit or a loss? (a) Loss (b) Profit
  4. 4.True or false: “the price you sell at” is the selling price. (a) False (b) True
  5. 5.💵 Selling price means… (a) what the buyer pays (b) what it cost you (c) the loss (d) the stall fee
  6. 6.One paper bookmark costs ₹22 to make. Lakshmi wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  7. 7.One friendship band costs Riya ₹20 to make and sells for ₹10. Is that a profit or a loss? (a) Profit (b) Loss
  8. 8.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  9. 9.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  10. 10.One cup of lemonade costs Riya ₹42 to make and sells for ₹28. Is that a profit or a loss? (a) Loss (b) Profit
  11. 11.One fruit cup costs Nisha ₹38 to make and sells for ₹26. Is that a profit or a loss? (a) Profit (b) Loss
  12. 12.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  13. 13.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  14. 14.True or false: “money got from a sale” is the cost price. (a) False (b) True
  15. 15.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  16. 16.True or false: “what a customer pays” is the cost price. (a) True (b) False
  17. 17.It costs ₹37 to make one friendship band. Arjun sells it for ₹49. What is the profit on one (in ₹)?
  18. 18.True or false: “the price on your board” is the selling price. (a) False (b) True
  19. 19.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  20. 20.One cup of lemonade costs ₹6 to make. Farhan wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  21. 21.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) never (d) SP equal to CP
  22. 22.Meera makes 16 friendship bands at a cost of ₹8 each and sells all of them at ₹9 each. What is the total profit (in ₹)?
  23. 23.True or false: “money spent to get it” is the selling price. (a) False (b) True
  24. 24.True or false: “what you paid for it” is the selling price. (a) False (b) True
  25. 25.It costs ₹10 to make one cupcake. On the last day Kabir sells it for only ₹6. How much is the loss on one (in ₹)?
  26. 26.It costs ₹51 to make one friendship band. On the last day Lakshmi sells it for only ₹50. How much is the loss on one (in ₹)?
  27. 27.One jute bag costs Ishaan ₹50 to make and sells for ₹47. Is that a profit or a loss? (a) Loss (b) Profit
  28. 28.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  29. 29.📉 When is there a loss? (a) always (b) SP equal to CP (c) SP less than CP (d) SP more than CP
  30. 30.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  31. 31.One handmade card costs Meera ₹16 to make and sells for ₹14. Is that a profit or a loss? (a) Loss (b) Profit
  32. 32.One fruit cup costs Vihaan ₹27 to make and sells for ₹36. Is that a profit or a loss? (a) Profit (b) Loss
  33. 33.One glass of chai costs Diya ₹56 to make and sells for ₹47. Is that a profit or a loss? (a) Loss (b) Profit
  34. 34.True or false: “cost of making one” is the selling price. (a) False (b) True
  35. 35.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  36. 36.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  37. 37.It costs ₹46 to make one bag of popcorn. Vihaan sells it for ₹55. What is the profit on one (in ₹)?
  38. 38.One glass of chai costs ₹37 to make. Aarav wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  39. 39.Riya makes 18 cups of lemonade at a cost of ₹5 each and sells all of them at ₹13 each. What is the total profit (in ₹)?
  40. 40.Lakshmi makes 17 handmade cards at a cost of ₹35 each and sells all of them at ₹47 each. What is the total profit (in ₹)?

Answer key

  1. what it cost you
  2. True
  3. Profit
  4. True
  5. what the buyer pays
  6. 25
  7. Loss
  8. cost price
  9. selling price
  10. Loss
  11. Loss
  12. False
  13. cost price
  14. False
  15. True
  16. False
  17. 12
  18. True
  19. selling price
  20. 24
  21. SP more than CP
  22. 16
  23. False
  24. False
  25. 4
  26. 1
  27. Loss
  28. selling price
  29. SP less than CP
  30. cost price
  31. Loss
  32. Profit
  33. Loss
  34. False
  35. selling price
  36. cost price
  37. 9
  38. 41
  39. 144
  40. 204

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