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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 974 · 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.💵 Selling price means… (a) what it cost you (b) the stall fee (c) what the buyer pays (d) the loss
  2. 2.True or false: “money got from a sale” is the cost price. (a) False (b) True
  3. 3.🏷️ Cost price or selling price: money spent to get it? (a) cost price (b) selling price
  4. 4.🏷️ Cost price means… (a) what the buyer pays (b) the discount (c) what it cost you (d) the profit
  5. 5.It costs ₹9 to make one paper bookmark. Meera sells it for ₹24. What is the profit on one (in ₹)?
  6. 6.It costs ₹63 to make one painted pebble. On the last day Ishaan sells it for only ₹54. How much is the loss on one (in ₹)?
  7. 7.It costs ₹43 to make one jute bag. Joseph sells it for ₹47. What is the profit on one (in ₹)?
  8. 8.True or false: “the price on your board” is the cost price. (a) False (b) True
  9. 9.Farhan makes 15 cupcakes at a cost of ₹8 each and sells all of them at ₹12 each. What is the total profit (in ₹)?
  10. 10.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  11. 11.It costs ₹38 to make one potted plant. On the last day Ishaan sells it for only ₹37. How much is the loss on one (in ₹)?
  12. 12.Tara makes 5 cups of lemonade at a cost of ₹24 each and sells all of them at ₹37 each. What is the total profit (in ₹)?
  13. 13.🏷️ Cost price or selling price: money got from a sale? (a) selling price (b) cost price
  14. 14.It costs ₹53 to make one glass of chai. On the last day Saanvi sells it for only ₹52. How much is the loss on one (in ₹)?
  15. 15.True or false: “what you paid for it” is the cost price. (a) False (b) True
  16. 16.It costs ₹57 to make one paper bookmark. Diya sells it for ₹72. What is the profit on one (in ₹)?
  17. 17.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  18. 18.📈 When is there a profit? (a) never (b) SP equal to CP (c) SP more than CP (d) SP less than CP
  19. 19.One fruit cup costs ₹25 to make. Riya wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  20. 20.It costs ₹17 to make one jute bag. On the last day Zoya sells it for only ₹14. How much is the loss on one (in ₹)?
  21. 21.True or false: “what you paid for it” is the selling price. (a) False (b) True
  22. 22.📉 When is there a loss? (a) always (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  23. 23.Gurpreet makes 7 cups of lemonade at a cost of ₹29 each and sells all of them at ₹37 each. What is the total profit (in ₹)?
  24. 24.It costs ₹40 to make one potted plant. Vihaan sells it for ₹43. What is the profit on one (in ₹)?
  25. 25.Dev makes 6 cupcakes at a cost of ₹7 each and sells all of them at ₹8 each. What is the total profit (in ₹)?
  26. 26.True or false: “what a customer pays” is the cost price. (a) False (b) True
  27. 27.One cupcake costs ₹37 to make. Joseph wants a profit of ₹3 on each. What should the selling price be (in ₹)?
  28. 28.It costs ₹27 to make one friendship band. Gurpreet sells it for ₹40. What is the profit on one (in ₹)?
  29. 29.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  30. 30.True or false: “the price you sell at” is the selling price. (a) False (b) True
  31. 31.True or false: “what a customer pays” is the selling price. (a) True (b) False
  32. 32.It costs ₹21 to make one handmade card. Kavya sells it for ₹30. What is the profit on one (in ₹)?
  33. 33.True or false: “the price on your board” is the selling price. (a) False (b) True
  34. 34.One bag of popcorn costs Tara ₹55 to make and sells for ₹56. Is that a profit or a loss? (a) Profit (b) Loss
  35. 35.Rohan makes 6 paper bookmarks at a cost of ₹23 each and sells all of them at ₹26 each. What is the total profit (in ₹)?
  36. 36.It costs ₹31 to make one paper bookmark. Arjun sells it for ₹48. What is the profit on one (in ₹)?
  37. 37.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  38. 38.True or false: “cost of making one” is the selling price. (a) False (b) True
  39. 39.One handmade card costs Rohan ₹29 to make and sells for ₹27. Is that a profit or a loss? (a) Profit (b) Loss
  40. 40.It costs ₹51 to make one friendship band. Gurpreet sells it for ₹62. What is the profit on one (in ₹)?

Answer key

  1. what the buyer pays
  2. False
  3. cost price
  4. what it cost you
  5. 15
  6. 9
  7. 4
  8. False
  9. 60
  10. cost price
  11. 1
  12. 65
  13. selling price
  14. 1
  15. True
  16. 15
  17. cost price
  18. SP more than CP
  19. 28
  20. 3
  21. False
  22. SP less than CP
  23. 56
  24. 3
  25. 6
  26. False
  27. 40
  28. 13
  29. True
  30. True
  31. True
  32. 9
  33. True
  34. Profit
  35. 18
  36. 17
  37. selling price
  38. False
  39. Loss
  40. 11

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