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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 952 · 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: “cost of making one” is the cost price. (a) True (b) False
  2. 2.True or false: “the price on your board” is the cost price. (a) False (b) True
  3. 3.True or false: “the price on your board” is the selling price. (a) True (b) False
  4. 4.📈 When is there a profit? (a) SP less than CP (b) never (c) SP equal to CP (d) SP more than CP
  5. 5.📉 When is there a loss? (a) SP equal to CP (b) SP less than CP (c) always (d) SP more than CP
  6. 6.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  7. 7.One paper bookmark costs Diya ₹29 to make and sells for ₹20. Is that a profit or a loss? (a) Profit (b) Loss
  8. 8.True or false: “what a customer pays” is the selling price. (a) False (b) True
  9. 9.🏷️ Cost price means… (a) what the buyer pays (b) the profit (c) the discount (d) what it cost you
  10. 10.True or false: “what you paid for it” is the cost price. (a) False (b) True
  11. 11.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  12. 12.True or false: “what you paid for it” is the selling price. (a) False (b) True
  13. 13.Rohan makes 8 cups of lemonade at a cost of ₹16 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  14. 14.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  15. 15.It costs ₹53 to make one clay diya. On the last day Diya sells it for only ₹51. How much is the loss on one (in ₹)?
  16. 16.True or false: “the price you sell at” is the cost price. (a) True (b) False
  17. 17.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  18. 18.One fruit cup costs Gurpreet ₹50 to make and sells for ₹45. Is that a profit or a loss? (a) Profit (b) Loss
  19. 19.One cup of lemonade costs ₹8 to make. Rohan wants a profit of ₹2 on each. What should the selling price be (in ₹)?
  20. 20.One cupcake costs Riya ₹28 to make and sells for ₹24. Is that a profit or a loss? (a) Profit (b) Loss
  21. 21.True or false: “the price you sell at” is the selling price. (a) False (b) True
  22. 22.Zoya makes 7 glasses of chai at a cost of ₹10 each and sells all of them at ₹23 each. What is the total profit (in ₹)?
  23. 23.It costs ₹54 to make one paper bookmark. Kavya sells it for ₹58. What is the profit on one (in ₹)?
  24. 24.One handmade card costs ₹19 to make. Aarav wants a profit of ₹1 on each. What should the selling price be (in ₹)?
  25. 25.💵 Selling price means… (a) what it cost you (b) the stall fee (c) what the buyer pays (d) the loss
  26. 26.True or false: “cost of making one” is the selling price. (a) False (b) True
  27. 27.One cupcake costs ₹37 to make. Dev wants a profit of ₹19 on each. What should the selling price be (in ₹)?
  28. 28.It costs ₹30 to make one jute bag. Arjun sells it for ₹35. What is the profit on one (in ₹)?
  29. 29.True or false: “money spent to get it” is the cost price. (a) True (b) False
  30. 30.One cup of lemonade costs ₹55 to make. Farhan wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  31. 31.It costs ₹63 to make one handmade card. On the last day Saanvi sells it for only ₹59. How much is the loss on one (in ₹)?
  32. 32.One painted pebble costs Rohan ₹25 to make and sells for ₹27. Is that a profit or a loss? (a) Profit (b) Loss
  33. 33.One friendship band costs ₹19 to make. Ananya wants a profit of ₹12 on each. What should the selling price be (in ₹)?
  34. 34.One painted pebble costs ₹14 to make. Ananya wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  35. 35.It costs ₹5 to make one clay diya. Farhan sells it for ₹17. What is the profit on one (in ₹)?
  36. 36.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  37. 37.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  38. 38.One handmade card costs Aarav ₹17 to make and sells for ₹7. Is that a profit or a loss? (a) Loss (b) Profit
  39. 39.True or false: “what a customer pays” is the cost price. (a) True (b) False
  40. 40.It costs ₹62 to make one glass of chai. On the last day Ananya sells it for only ₹59. How much is the loss on one (in ₹)?

Answer key

  1. True
  2. False
  3. True
  4. SP more than CP
  5. SP less than CP
  6. selling price
  7. Loss
  8. True
  9. what it cost you
  10. True
  11. True
  12. False
  13. 40
  14. selling price
  15. 2
  16. False
  17. cost price
  18. Loss
  19. 10
  20. Loss
  21. True
  22. 91
  23. 4
  24. 20
  25. what the buyer pays
  26. False
  27. 56
  28. 5
  29. True
  30. 58
  31. 4
  32. Profit
  33. 31
  34. 29
  35. 12
  36. selling price
  37. cost price
  38. Loss
  39. False
  40. 3

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