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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 94 · 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.True or false: “what you paid for it” is the selling price. (a) False (b) True
  2. 2.📉 When is there a loss? (a) SP equal to CP (b) SP less than CP (c) always (d) SP more than CP
  3. 3.🏷️ Cost price means… (a) the discount (b) what the buyer pays (c) what it cost you (d) the profit
  4. 4.One handmade card costs ₹23 to make. Kavya wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  5. 5.🏷️ Cost price or selling price: what a customer pays? (a) selling price (b) cost price
  6. 6.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  7. 7.📈 When is there a profit? (a) never (b) SP more than CP (c) SP less than CP (d) SP equal to CP
  8. 8.One handmade card costs Riya ₹16 to make and sells for ₹21. Is that a profit or a loss? (a) Profit (b) Loss
  9. 9.True or false: “the wholesale price paid” is the selling price. (a) True (b) False
  10. 10.It costs ₹31 to make one handmade card. Nisha sells it for ₹35. What is the profit on one (in ₹)?
  11. 11.💵 Selling price means… (a) what it cost you (b) what the buyer pays (c) the stall fee (d) the loss
  12. 12.It costs ₹15 to make one painted pebble. Aarav sells it for ₹30. What is the profit on one (in ₹)?
  13. 13.It costs ₹31 to make one jute bag. Joseph sells it for ₹44. What is the profit on one (in ₹)?
  14. 14.It costs ₹43 to make one fruit cup. Riya sells it for ₹55. What is the profit on one (in ₹)?
  15. 15.One handmade card costs ₹11 to make. Ananya wants a profit of ₹6 on each. What should the selling price be (in ₹)?
  16. 16.True or false: “the price on your board” is the cost price. (a) False (b) True
  17. 17.Aarav makes 18 handmade cards at a cost of ₹16 each and sells all of them at ₹27 each. What is the total profit (in ₹)?
  18. 18.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  19. 19.One glass of chai costs Kavya ₹38 to make and sells for ₹41. Is that a profit or a loss? (a) Profit (b) Loss
  20. 20.True or false: “what you paid for it” is the cost price. (a) False (b) True
  21. 21.True or false: “the price on your board” is the selling price. (a) True (b) False
  22. 22.It costs ₹57 to make one cup of lemonade. On the last day Kabir sells it for only ₹49. How much is the loss on one (in ₹)?
  23. 23.It costs ₹19 to make one paper bookmark. Arjun sells it for ₹39. What is the profit on one (in ₹)?
  24. 24.It costs ₹17 to make one jute bag. Tara sells it for ₹18. What is the profit on one (in ₹)?
  25. 25.Kabir makes 15 jute bags at a cost of ₹21 each and sells all of them at ₹31 each. What is the total profit (in ₹)?
  26. 26.It costs ₹10 to make one cup of lemonade. Ishaan sells it for ₹30. What is the profit on one (in ₹)?
  27. 27.True or false: “the price you sell at” is the cost price. (a) False (b) True
  28. 28.It costs ₹52 to make one glass of chai. On the last day Lakshmi sells it for only ₹47. How much is the loss on one (in ₹)?
  29. 29.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  30. 30.One bag of popcorn costs Lakshmi ₹45 to make and sells for ₹53. Is that a profit or a loss? (a) Profit (b) Loss
  31. 31.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  32. 32.True or false: “cost of making one” is the selling price. (a) True (b) False
  33. 33.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  34. 34.One clay diya costs Kabir ₹28 to make and sells for ₹14. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.It costs ₹55 to make one friendship band. Farhan sells it for ₹75. What is the profit on one (in ₹)?
  36. 36.True or false: “what a customer pays” is the cost price. (a) True (b) False
  37. 37.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  38. 38.True or false: “money got from a sale” is the selling price. (a) False (b) True
  39. 39.True or false: “cost of making one” is the cost price. (a) True (b) False
  40. 40.True or false: “what a customer pays” is the selling price. (a) True (b) False

Answer key

  1. False
  2. SP less than CP
  3. what it cost you
  4. 43
  5. selling price
  6. selling price
  7. SP more than CP
  8. Profit
  9. False
  10. 4
  11. what the buyer pays
  12. 15
  13. 13
  14. 12
  15. 17
  16. False
  17. 198
  18. cost price
  19. Profit
  20. True
  21. True
  22. 8
  23. 20
  24. 1
  25. 150
  26. 20
  27. False
  28. 5
  29. cost price
  30. Profit
  31. cost price
  32. False
  33. selling price
  34. Loss
  35. 20
  36. False
  37. cost price
  38. True
  39. True
  40. True

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