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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 98 · 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.🏷️ Cost price or selling price: cost of making one? (a) cost price (b) selling price
  2. 2.True or false: “cost of making one” is the cost price. (a) True (b) False
  3. 3.🏷️ Cost price or selling price: the wholesale price paid? (a) cost price (b) selling price
  4. 4.Arjun makes 25 friendship bands at a cost of ₹38 each and sells all of them at ₹44 each. What is the total profit (in ₹)?
  5. 5.True or false: “money got from a sale” is the cost price. (a) False (b) True
  6. 6.True or false: “money spent to get it” is the selling price. (a) False (b) True
  7. 7.Riya makes 8 glasses of chai at a cost of ₹35 each and sells all of them at ₹43 each. What is the total profit (in ₹)?
  8. 8.Riya makes 16 fruit cups at a cost of ₹40 each and sells all of them at ₹49 each. What is the total profit (in ₹)?
  9. 9.📈 When is there a profit? (a) never (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  10. 10.True or false: “the price on your board” is the selling price. (a) True (b) False
  11. 11.It costs ₹28 to make one jute bag. On the last day Kabir sells it for only ₹27. How much is the loss on one (in ₹)?
  12. 12.True or false: “the price on your board” is the cost price. (a) False (b) True
  13. 13.It costs ₹57 to make one friendship band. Nisha sells it for ₹76. What is the profit on one (in ₹)?
  14. 14.One clay diya costs ₹41 to make. Kavya wants a profit of ₹10 on each. What should the selling price be (in ₹)?
  15. 15.🏷️ Cost price or selling price: the price you sell at? (a) selling price (b) cost price
  16. 16.One jute bag costs Kavya ₹40 to make and sells for ₹43. Is that a profit or a loss? (a) Loss (b) Profit
  17. 17.It costs ₹22 to make one fruit cup. Farhan sells it for ₹29. What is the profit on one (in ₹)?
  18. 18.🏷️ Cost price or selling price: money spent to get it? (a) selling price (b) cost price
  19. 19.🏷️ Cost price means… (a) the discount (b) what it cost you (c) the profit (d) what the buyer pays
  20. 20.🏷️ Cost price or selling price: what you paid for it? (a) cost price (b) selling price
  21. 21.One potted plant costs Aarav ₹45 to make and sells for ₹30. Is that a profit or a loss? (a) Profit (b) Loss
  22. 22.Farhan makes 21 potted plants at a cost of ₹5 each and sells all of them at ₹9 each. What is the total profit (in ₹)?
  23. 23.True or false: “money got from a sale” is the selling price. (a) False (b) True
  24. 24.True or false: “what you paid for it” is the cost price. (a) True (b) False
  25. 25.True or false: “the wholesale price paid” is the cost price. (a) True (b) False
  26. 26.True or false: “what a customer pays” is the selling price. (a) True (b) False
  27. 27.One handmade card costs Rohan ₹20 to make and sells for ₹31. Is that a profit or a loss? (a) Loss (b) Profit
  28. 28.🏷️ Cost price or selling price: what a customer pays? (a) cost price (b) selling price
  29. 29.🏷️ Cost price or selling price: money got from a sale? (a) cost price (b) selling price
  30. 30.One painted pebble costs Rohan ₹53 to make and sells for ₹63. Is that a profit or a loss? (a) Loss (b) Profit
  31. 31.It costs ₹9 to make one cupcake. On the last day Nisha sells it for only ₹8. How much is the loss on one (in ₹)?
  32. 32.One cupcake costs Lakshmi ₹47 to make and sells for ₹37. Is that a profit or a loss? (a) Profit (b) Loss
  33. 33.Arjun makes 28 jute bags at a cost of ₹16 each and sells all of them at ₹20 each. What is the total profit (in ₹)?
  34. 34.📉 When is there a loss? (a) always (b) SP more than CP (c) SP less than CP (d) SP equal to CP
  35. 35.It costs ₹29 to make one cup of lemonade. Lakshmi sells it for ₹47. What is the profit on one (in ₹)?
  36. 36.It costs ₹40 to make one potted plant. On the last day Nisha sells it for only ₹38. How much is the loss on one (in ₹)?
  37. 37.💵 Selling price means… (a) what it cost you (b) the loss (c) the stall fee (d) what the buyer pays
  38. 38.It costs ₹42 to make one friendship band. Gurpreet sells it for ₹60. What is the profit on one (in ₹)?
  39. 39.It costs ₹62 to make one jute bag. On the last day Kavya sells it for only ₹53. How much is the loss on one (in ₹)?
  40. 40.True or false: “the price you sell at” is the selling price. (a) True (b) False

Answer key

  1. cost price
  2. True
  3. cost price
  4. 150
  5. False
  6. False
  7. 64
  8. 144
  9. SP more than CP
  10. True
  11. 1
  12. False
  13. 19
  14. 51
  15. selling price
  16. Profit
  17. 7
  18. cost price
  19. what it cost you
  20. cost price
  21. Loss
  22. 84
  23. True
  24. True
  25. True
  26. True
  27. Profit
  28. selling price
  29. selling price
  30. Profit
  31. 1
  32. Loss
  33. 112
  34. SP less than CP
  35. 18
  36. 2
  37. what the buyer pays
  38. 18
  39. 9
  40. True

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