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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 911 · 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.

NameDateTime takenScore ___ / 40
  1. 1.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  2. 2.True or false: “cost of making one” is the selling price. (a) True (b) False
  3. 3.One potted plant costs ₹20 to make. Ishaan wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  4. 4.Ishaan makes 5 bags of popcorn at a cost of ₹25 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  5. 5.True or false: “the price you sell at” is the cost price. (a) True (b) False
  6. 6.One clay diya costs Ananya ₹16 to make and sells for ₹13. Is that a profit or a loss? (a) Profit (b) Loss
  7. 7.📉 When is there a loss? (a) SP more than CP (b) SP equal to CP (c) always (d) SP less than CP
  8. 8.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  9. 9.🏷️ Cost price means… (a) the profit (b) the discount (c) what it cost you (d) what the buyer pays
  10. 10.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  11. 11.One handmade card costs ₹25 to make. Lakshmi wants a profit of ₹8 on each. What should the selling price be (in ₹)?
  12. 12.True or false: “what you paid for it” is the selling price. (a) True (b) False
  13. 13.True or false: “the price on your board” is the selling price. (a) True (b) False
  14. 14.Gurpreet makes 15 cups of lemonade at a cost of ₹39 each and sells all of them at ₹49 each. What is the total profit (in ₹)?
  15. 15.One cupcake costs Diya ₹47 to make and sells for ₹41. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.One jute bag costs ₹30 to make. Tara wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  17. 17.📈 When is there a profit? (a) never (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  18. 18.It costs ₹10 to make one paper bookmark. On the last day Joseph sells it for only ₹9. How much is the loss on one (in ₹)?
  19. 19.Joseph makes 7 jute bags at a cost of ₹34 each and sells all of them at ₹40 each. What is the total profit (in ₹)?
  20. 20.True or false: “the price on your board” is the cost price. (a) True (b) False
  21. 21.One painted pebble costs ₹50 to make. Joseph wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  22. 22.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  23. 23.It costs ₹27 to make one jute bag. On the last day Saanvi sells it for only ₹25. How much is the loss on one (in ₹)?
  24. 24.It costs ₹32 to make one paper bookmark. Diya sells it for ₹35. What is the profit on one (in ₹)?
  25. 25.True or false: “what a customer pays” is the selling price. (a) False (b) True
  26. 26.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  27. 27.It costs ₹59 to make one glass of chai. Farhan sells it for ₹69. What is the profit on one (in ₹)?
  28. 28.Farhan makes 19 clay diyas at a cost of ₹39 each and sells all of them at ₹47 each. What is the total profit (in ₹)?
  29. 29.One cup of lemonade costs Meera ₹38 to make and sells for ₹50. Is that a profit or a loss? (a) Profit (b) Loss
  30. 30.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  31. 31.One glass of chai costs ₹23 to make. Saanvi wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  32. 32.One cupcake costs ₹56 to make. Rohan wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  33. 33.One cupcake costs ₹42 to make. Rohan wants a profit of ₹14 on each. What should the selling price be (in ₹)?
  34. 34.One potted plant costs Vihaan ₹16 to make and sells for ₹6. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.It costs ₹49 to make one jute bag. On the last day Kavya sells it for only ₹48. How much is the loss on one (in ₹)?
  36. 36.💵 Selling price means… (a) what the buyer pays (b) the loss (c) what it cost you (d) the stall fee
  37. 37.One cupcake costs Saanvi ₹21 to make and sells for ₹13. Is that a profit or a loss? (a) Loss (b) Profit
  38. 38.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  39. 39.True or false: “money spent to get it” is the selling price. (a) True (b) False
  40. 40.True or false: “money got from a sale” is the cost price. (a) False (b) True

Answer key

  1. True
  2. False
  3. 28
  4. 5
  5. False
  6. Loss
  7. SP less than CP
  8. cost price
  9. what it cost you
  10. cost price
  11. 33
  12. False
  13. True
  14. 150
  15. Loss
  16. 45
  17. SP more than CP
  18. 1
  19. 42
  20. False
  21. 53
  22. selling price
  23. 2
  24. 3
  25. True
  26. cost price
  27. 10
  28. 152
  29. Profit
  30. selling price
  31. 37
  32. 68
  33. 56
  34. Loss
  35. 1
  36. what the buyer pays
  37. Loss
  38. cost price
  39. False
  40. False

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