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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 852 · 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.One friendship band costs Joseph ₹21 to make and sells for ₹27. Is that a profit or a loss? (a) Profit (b) Loss
  2. 2.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  3. 3.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  4. 4.It costs ₹26 to make one jute bag. Rohan sells it for ₹44. What is the profit on one (in ₹)?
  5. 5.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  6. 6.Ananya makes 27 clay diyas at a cost of ₹8 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  7. 7.True or false: “cost of making one” is the selling price. (a) False (b) True
  8. 8.🏷️ Cost price means… (a) the discount (b) what the buyer pays (c) the profit (d) what it cost you
  9. 9.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  10. 10.Lakshmi makes 5 friendship bands at a cost of ₹17 each and sells all of them at ₹28 each. What is the total profit (in ₹)?
  11. 11.True or false: “the price you sell at” is the selling price. (a) True (b) False
  12. 12.One painted pebble costs Farhan ₹32 to make and sells for ₹31. Is that a profit or a loss? (a) Loss (b) Profit
  13. 13.One cupcake costs Tara ₹19 to make and sells for ₹4. Is that a profit or a loss? (a) Profit (b) Loss
  14. 14.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  15. 15.True or false: “what a customer pays” is the selling price. (a) False (b) True
  16. 16.It costs ₹11 to make one paper bookmark. Meera sells it for ₹19. What is the profit on one (in ₹)?
  17. 17.One paper bookmark costs Joseph ₹34 to make and sells for ₹22. Is that a profit or a loss? (a) Profit (b) Loss
  18. 18.One glass of chai costs Lakshmi ₹50 to make and sells for ₹42. Is that a profit or a loss? (a) Profit (b) Loss
  19. 19.💵 Selling price means… (a) the stall fee (b) what it cost you (c) what the buyer pays (d) the loss
  20. 20.It costs ₹21 to make one handmade card. Arjun sells it for ₹34. What is the profit on one (in ₹)?
  21. 21.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  22. 22.Joseph makes 16 paper bookmarks at a cost of ₹22 each and sells all of them at ₹27 each. What is the total profit (in ₹)?
  23. 23.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  24. 24.📉 When is there a loss? (a) SP less than CP (b) SP equal to CP (c) always (d) SP more than CP
  25. 25.Arjun makes 27 handmade cards at a cost of ₹34 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  26. 26.One jute bag costs Meera ₹57 to make and sells for ₹42. Is that a profit or a loss? (a) Profit (b) Loss
  27. 27.📈 When is there a profit? (a) never (b) SP less than CP (c) SP more than CP (d) SP equal to CP
  28. 28.It costs ₹51 to make one handmade card. On the last day Diya sells it for only ₹49. How much is the loss on one (in ₹)?
  29. 29.One paper bookmark costs ₹10 to make. Ananya wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  30. 30.True or false: “cost of making one” is the cost price. (a) False (b) True
  31. 31.It costs ₹34 to make one handmade card. Dev sells it for ₹35. What is the profit on one (in ₹)?
  32. 32.True or false: “what you paid for it” is the cost price. (a) True (b) False
  33. 33.It costs ₹12 to make one jute bag. Saanvi sells it for ₹27. What is the profit on one (in ₹)?
  34. 34.One glass of chai costs ₹17 to make. Farhan wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  35. 35.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  36. 36.Lakshmi makes 6 friendship bands at a cost of ₹25 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  37. 37.True or false: “money got from a sale” is the selling price. (a) False (b) True
  38. 38.It costs ₹19 to make one glass of chai. Ananya sells it for ₹21. What is the profit on one (in ₹)?
  39. 39.True or false: “money spent to get it” is the cost price. (a) True (b) False
  40. 40.One potted plant costs ₹28 to make. Aarav wants a profit of ₹12 on each. What should the selling price be (in ₹)?

Answer key

  1. Profit
  2. cost price
  3. selling price
  4. 18
  5. cost price
  6. 351
  7. False
  8. what it cost you
  9. selling price
  10. 55
  11. True
  12. Loss
  13. Loss
  14. cost price
  15. True
  16. 8
  17. Loss
  18. Loss
  19. what the buyer pays
  20. 13
  21. cost price
  22. 80
  23. selling price
  24. SP less than CP
  25. 135
  26. Loss
  27. SP more than CP
  28. 2
  29. 13
  30. True
  31. 1
  32. True
  33. 15
  34. 37
  35. True
  36. 6
  37. True
  38. 2
  39. True
  40. 40

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