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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 892 · 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: what you paid for it? (a) cost price (b) selling price
  2. 2.True or false: “what you paid for it” is the selling price. (a) True (b) False
  3. 3.True or false: “cost of making one” is the selling price. (a) True (b) False
  4. 4.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  5. 5.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  6. 6.True or false: “what a customer pays” is the cost price. (a) False (b) True
  7. 7.True or false: “what a customer pays” is the selling price. (a) True (b) False
  8. 8.One cup of lemonade costs ₹11 to make. Kabir wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  9. 9.One fruit cup costs Saanvi ₹57 to make and sells for ₹50. Is that a profit or a loss? (a) Loss (b) Profit
  10. 10.True or false: “the price on your board” is the cost price. (a) True (b) False
  11. 11.True or false: “the price on your board” is the selling price. (a) True (b) False
  12. 12.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  13. 13.Lakshmi makes 25 cups of lemonade at a cost of ₹30 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  14. 14.It costs ₹14 to make one handmade card. On the last day Meera sells it for only ₹7. How much is the loss on one (in ₹)?
  15. 15.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  16. 16.True or false: “money got from a sale” is the cost price. (a) True (b) False
  17. 17.One glass of chai costs ₹7 to make. Aarav wants a profit of ₹17 on each. What should the selling price be (in ₹)?
  18. 18.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  19. 19.It costs ₹25 to make one jute bag. Ishaan sells it for ₹42. What is the profit on one (in ₹)?
  20. 20.It costs ₹54 to make one friendship band. Ananya sells it for ₹71. What is the profit on one (in ₹)?
  21. 21.💵 Selling price means… (a) the loss (b) the stall fee (c) what the buyer pays (d) what it cost you
  22. 22.Kabir makes 19 cupcakes at a cost of ₹38 each and sells all of them at ₹45 each. What is the total profit (in ₹)?
  23. 23.One cupcake costs Nisha ₹19 to make and sells for ₹28. Is that a profit or a loss? (a) Loss (b) Profit
  24. 24.True or false: “money got from a sale” is the selling price. (a) True (b) False
  25. 25.It costs ₹19 to make one painted pebble. Rohan sells it for ₹24. What is the profit on one (in ₹)?
  26. 26.It costs ₹35 to make one friendship band. Aarav sells it for ₹38. What is the profit on one (in ₹)?
  27. 27.It costs ₹42 to make one handmade card. On the last day Saanvi sells it for only ₹32. How much is the loss on one (in ₹)?
  28. 28.It costs ₹39 to make one clay diya. Arjun sells it for ₹47. What is the profit on one (in ₹)?
  29. 29.It costs ₹14 to make one jute bag. Rohan sells it for ₹29. What is the profit on one (in ₹)?
  30. 30.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  31. 31.📉 When is there a loss? (a) SP more than CP (b) SP less than CP (c) always (d) SP equal to CP
  32. 32.True or false: “money spent to get it” is the selling price. (a) True (b) False
  33. 33.🏷️ Cost price means… (a) what the buyer pays (b) the profit (c) the discount (d) what it cost you
  34. 34.It costs ₹38 to make one handmade card. On the last day Zoya sells it for only ₹29. How much is the loss on one (in ₹)?
  35. 35.True or false: “cost of making one” is the cost price. (a) False (b) True
  36. 36.It costs ₹52 to make one bag of popcorn. On the last day Ananya sells it for only ₹48. How much is the loss on one (in ₹)?
  37. 37.One handmade card costs Saanvi ₹46 to make and sells for ₹42. Is that a profit or a loss? (a) Loss (b) Profit
  38. 38.📈 When is there a profit? (a) SP more than CP (b) SP less than CP (c) never (d) SP equal to CP
  39. 39.One paper bookmark costs ₹23 to make. Dev wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  40. 40.One cup of lemonade costs Lakshmi ₹25 to make and sells for ₹38. Is that a profit or a loss? (a) Loss (b) Profit

Answer key

  1. cost price
  2. False
  3. False
  4. False
  5. selling price
  6. False
  7. True
  8. 29
  9. Loss
  10. False
  11. True
  12. selling price
  13. 100
  14. 7
  15. selling price
  16. False
  17. 24
  18. selling price
  19. 17
  20. 17
  21. what the buyer pays
  22. 133
  23. Profit
  24. True
  25. 5
  26. 3
  27. 10
  28. 8
  29. 15
  30. cost price
  31. SP less than CP
  32. False
  33. what it cost you
  34. 9
  35. True
  36. 4
  37. Loss
  38. SP more than CP
  39. 35
  40. Profit

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