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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 86 · 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 or selling price: money got from a sale? (a) selling price (b) cost price
  2. 2.True or false: “the price you sell at” is the selling price. (a) False (b) True
  3. 3.True or false: “cost of making one” is the cost price. (a) True (b) False
  4. 4.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  5. 5.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  6. 6.True or false: “money got from a sale” is the cost price. (a) False (b) True
  7. 7.One fruit cup costs ₹11 to make. Rohan wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  8. 8.True or false: “the price on your board” is the cost price. (a) False (b) True
  9. 9.One fruit cup costs ₹47 to make. Arjun wants a profit of ₹4 on each. What should the selling price be (in ₹)?
  10. 10.Zoya makes 20 painted pebbles at a cost of ₹13 each and sells all of them at ₹24 each. What is the total profit (in ₹)?
  11. 11.It costs ₹21 to make one handmade card. Aarav sells it for ₹41. What is the profit on one (in ₹)?
  12. 12.One glass of chai costs Kabir ₹25 to make and sells for ₹17. Is that a profit or a loss? (a) Profit (b) Loss
  13. 13.One glass of chai costs Rohan ₹36 to make and sells for ₹34. Is that a profit or a loss? (a) Profit (b) Loss
  14. 14.It costs ₹51 to make one clay diya. On the last day Riya sells it for only ₹49. How much is the loss on one (in ₹)?
  15. 15.One potted plant costs Zoya ₹45 to make and sells for ₹42. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.It costs ₹33 to make one bag of popcorn. On the last day Dev sells it for only ₹23. How much is the loss on one (in ₹)?
  17. 17.It costs ₹59 to make one clay diya. On the last day Kavya sells it for only ₹58. How much is the loss on one (in ₹)?
  18. 18.💵 Selling price means… (a) what it cost you (b) the loss (c) the stall fee (d) what the buyer pays
  19. 19.True or false: “what a customer pays” is the cost price. (a) False (b) True
  20. 20.📉 When is there a loss? (a) SP equal to CP (b) SP more than CP (c) always (d) SP less than CP
  21. 21.It costs ₹42 to make one jute bag. On the last day Vihaan sells it for only ₹33. How much is the loss on one (in ₹)?
  22. 22.True or false: “money got from a sale” is the selling price. (a) False (b) True
  23. 23.🏷️ Cost price means… (a) what the buyer pays (b) the profit (c) the discount (d) what it cost you
  24. 24.It costs ₹5 to make one clay diya. Zoya sells it for ₹8. What is the profit on one (in ₹)?
  25. 25.It costs ₹22 to make one cup of lemonade. Vihaan sells it for ₹38. What is the profit on one (in ₹)?
  26. 26.True or false: “the wholesale price paid” is the selling price. (a) False (b) True
  27. 27.It costs ₹8 to make one clay diya. Dev sells it for ₹17. What is the profit on one (in ₹)?
  28. 28.True or false: “what you paid for it” is the selling price. (a) False (b) True
  29. 29.One jute bag costs ₹5 to make. Lakshmi wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  30. 30.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  31. 31.It costs ₹42 to make one glass of chai. Meera sells it for ₹54. What is the profit on one (in ₹)?
  32. 32.🏷️ Cost price or selling price: the price on your board? (a) selling price (b) cost price
  33. 33.It costs ₹58 to make one bag of popcorn. Zoya sells it for ₹73. What is the profit on one (in ₹)?
  34. 34.True or false: “the price on your board” is the selling price. (a) False (b) True
  35. 35.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  36. 36.True or false: “what you paid for it” is the cost price. (a) False (b) True
  37. 37.True or false: “the price you sell at” is the cost price. (a) False (b) True
  38. 38.📈 When is there a profit? (a) never (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  39. 39.Lakshmi makes 12 glasses of chai at a cost of ₹12 each and sells all of them at ₹24 each. What is the total profit (in ₹)?
  40. 40.Ishaan makes 30 fruit cups at a cost of ₹18 each and sells all of them at ₹33 each. What is the total profit (in ₹)?

Answer key

  1. selling price
  2. True
  3. True
  4. selling price
  5. cost price
  6. False
  7. 19
  8. False
  9. 51
  10. 220
  11. 20
  12. Loss
  13. Loss
  14. 2
  15. Loss
  16. 10
  17. 1
  18. what the buyer pays
  19. False
  20. SP less than CP
  21. 9
  22. True
  23. what it cost you
  24. 3
  25. 16
  26. False
  27. 9
  28. False
  29. 8
  30. cost price
  31. 12
  32. selling price
  33. 15
  34. True
  35. selling price
  36. True
  37. False
  38. SP more than CP
  39. 144
  40. 450

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