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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 923 · 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.It costs ₹50 to make one clay diya. On the last day Aarav sells it for only ₹42. How much is the loss on one (in ₹)?
  3. 3.True or false: “cost of making one” is the cost price. (a) False (b) True
  4. 4.📈 When is there a profit? (a) SP equal to CP (b) SP more than CP (c) never (d) SP less than CP
  5. 5.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  6. 6.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  7. 7.One clay diya costs Meera ₹49 to make and sells for ₹64. Is that a profit or a loss? (a) Profit (b) Loss
  8. 8.True or false: “the price on your board” is the selling price. (a) True (b) False
  9. 9.Zoya makes 16 handmade cards at a cost of ₹33 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  10. 10.It costs ₹54 to make one painted pebble. Gurpreet sells it for ₹68. What is the profit on one (in ₹)?
  11. 11.Kabir makes 28 potted plants at a cost of ₹30 each and sells all of them at ₹34 each. What is the total profit (in ₹)?
  12. 12.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  13. 13.True or false: “cost of making one” is the selling price. (a) False (b) True
  14. 14.Meera makes 14 handmade cards at a cost of ₹19 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  15. 15.It costs ₹13 to make one jute bag. On the last day Dev sells it for only ₹12. How much is the loss on one (in ₹)?
  16. 16.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  17. 17.True or false: “money got from a sale” is the selling price. (a) True (b) False
  18. 18.True or false: “what a customer pays” is the cost price. (a) True (b) False
  19. 19.One bag of popcorn costs ₹9 to make. Rohan wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  20. 20.💵 Selling price means… (a) the stall fee (b) what it cost you (c) the loss (d) what the buyer pays
  21. 21.📉 When is there a loss? (a) SP less than CP (b) SP equal to CP (c) SP more than CP (d) always
  22. 22.Zoya makes 16 cups of lemonade at a cost of ₹27 each and sells all of them at ₹39 each. What is the total profit (in ₹)?
  23. 23.🏷️ Cost price means… (a) what the buyer pays (b) what it cost you (c) the profit (d) the discount
  24. 24.Dev makes 5 paper bookmarks at a cost of ₹10 each and sells all of them at ₹14 each. What is the total profit (in ₹)?
  25. 25.Dev makes 10 handmade cards at a cost of ₹17 each and sells all of them at ₹28 each. What is the total profit (in ₹)?
  26. 26.One paper bookmark costs ₹16 to make. Meera wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  27. 27.It costs ₹17 to make one paper bookmark. On the last day Zoya sells it for only ₹7. How much is the loss on one (in ₹)?
  28. 28.One clay diya costs Kabir ₹30 to make and sells for ₹26. Is that a profit or a loss? (a) Loss (b) Profit
  29. 29.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  30. 30.It costs ₹39 to make one paper bookmark. On the last day Rohan sells it for only ₹38. How much is the loss on one (in ₹)?
  31. 31.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  32. 32.It costs ₹44 to make one bag of popcorn. On the last day Vihaan sells it for only ₹39. How much is the loss on one (in ₹)?
  33. 33.True or false: “money spent to get it” is the cost price. (a) True (b) False
  34. 34.Riya makes 12 bags of popcorn at a cost of ₹8 each and sells all of them at ₹10 each. What is the total profit (in ₹)?
  35. 35.One clay diya costs ₹35 to make. Tara wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  36. 36.True or false: “money got from a sale” is the cost price. (a) False (b) True
  37. 37.Zoya makes 26 cups of lemonade at a cost of ₹7 each and sells all of them at ₹8 each. What is the total profit (in ₹)?
  38. 38.One friendship band costs Farhan ₹42 to make and sells for ₹43. Is that a profit or a loss? (a) Profit (b) Loss
  39. 39.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  40. 40.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price

Answer key

  1. True
  2. 8
  3. True
  4. SP more than CP
  5. selling price
  6. cost price
  7. Profit
  8. True
  9. 160
  10. 14
  11. 112
  12. selling price
  13. False
  14. 28
  15. 1
  16. cost price
  17. True
  18. False
  19. 11
  20. what the buyer pays
  21. SP less than CP
  22. 192
  23. what it cost you
  24. 20
  25. 110
  26. 22
  27. 10
  28. Loss
  29. cost price
  30. 1
  31. False
  32. 5
  33. True
  34. 24
  35. 41
  36. False
  37. 26
  38. Profit
  39. selling price
  40. cost price

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