Profit and Loss Worksheet for Grade 5

Answer: c) ₹ 150

Explanation
Cost Price of goods = ₹ 200
Selling Price of goods = ₹ 350
Cost Price (C.P) = Price at which an Article is purchased.
Selling Price (S.P) = Price at which the Article is sold.
Since, Selling Price > Cost Price , Mr Gupta made a profit
Profit = Selling Price – Cost Price
Profit = 350 – 200
= 150
So, Profit made by Mr Gupta is ₹ 150

Answer: a) ₹ 875

Explanation
Cost Price of goods = ₹ 900
Overhead expenses = ₹ 225
Selling Price of goods = ₹ 2000
Cost Price ( CP ) = Price at which an Article is purchased (including overhead).
Selling Price ( SP ) = Price at which the Article is sold.
Overhead expenses = Overhead expenses are certain other expenses incurred by the Seller, and hence are added to his cost price.
Therefore,
Total Cost Price = Cost Price + Overhead expenses
Total Cost Price = 900 + 225
Total Cost Price = ₹ 1125
Since,
Total Cost Price < Selling Price , this indicates that there is a profit
Therefore,
Profit = Selling Price – Total Cost Price
Profit = 2000 – 1125
= 875
Profit = ₹ 875
So, the profit made by the girl is ₹ 875

Answer: b) Loss = ₹ 162

Explanation
Cost Price = ₹ 250
Overhead expenses = ₹ 52
Selling Price = ₹ 140
Cost Price (C.P) = Price at which an Article is purchased (including overhead expenses)
Selling Price (S.P) = Price at which the Article is sold.
Overhead expenses = Overhead expenses are certain other expenses incurred by the Seller, and hence are added to his cost price.
Therefore,
Total Cost Price = Cost Price + Overhead expenses
Total Cost Price = 250 + 52
Total Cost Price = ₹ 302
Since, Total Cost Price > Selling Price
Therefore,
Loss = Total Cost Price – Selling Price
Loss = 302 – 140
So, Loss = ₹ 162

Answer: a) Profit % = 25 %

Explanation
Cost Price of Decorative lamp = ₹ 1500
Transportation charges are = ₹ 100
Transportation charge is an overhead expenses
Overhead expenses = Overhead expenses are certain other expenses incurred by the Seller, and hence are added to his cost price.
Therefore,
Total Cost Price = Cost Price + Overhead expenses
Total Cost Price = 1500 + 100
Total Cost Price = ₹ 1600
Selling Price of Decorative lamp = ₹ 2000
Clearly, Selling Price > Total Cost Price
This indicates some profit has been earned
Therefore,
Profit = Selling Price – Total Cost Price
Profit = 2000 – 1600
Profit = ₹ 400
Since,

Profit % = 25 %
So, the Profit % is 25 % 

Answer: a) Profit = ₹ 64

Explanation
Cost Price = ₹ 95
Overhead expenses = ₹ 21
Selling Price = ₹ 180
Cost Price (C.P) = Price at which an Article is purchased.
Selling Price (S.P) = Price at which the Article is sold.
Overhead expenses = Overhead expenses are certain other expenses incurred by the Seller, and hence are added to his cost price.
Therefore,
Total Cost Price = Cost Price + Overhead expenses
Total Cost Price = 95 + 21
Total Cost Price = ₹ 116
Since, Selling Price > Total Cost Price
Therefore,
Profit = Selling Price – Total Cost Price
Profit = 180 – 116
Profit = 64
So, Profit = ₹ 64

Answer: b) ₹ 278

Explanation
Selling Price = ₹ 394
Profit = ₹ 116
Cost Price = ?
When profit is earned, then Cost Price would be less than the Selling Price
Therefore,
Profit = Selling Price – Cost Price
Or we can say,
Cost Price = Selling Price – Profit
Cost Price = 394 – 116
Cost Price = 278
So, Cost Price = ₹ 278

Answer: a) Loss % = 4 %

Explanation
Cost price(CP) – Price at which an article is purchased.
Selling price(SP) – Price at which an article is sold.
Loss – Where the Cost Price is greater than the Selling Price, the difference between the SP and CP is the Loss

Cost Price = ₹ 3000
Selling Price = ₹ 2880
Clearly, Cost Price > Selling Price
In this case a loss has been incurred
We know that,
Loss = Cost Price – Selling Price
Loss = 3000 – 2880
Loss = ₹ 120
Therefore,
Loss % = [(120/3000) x 100 ] %
Loss % = 4 %
So, the Loss % is 4 %

Answer: b) Profit % = 50 %

Explanation
Cost Price of school bag = ₹ 600
Selling Price of school bag = ₹ 900
Cost Price (CP) – Price at which an Article is purchased.
Selling Price (SP) – Price at which the Article is sold.
Profit – Where the Selling Price is greater than the Cost Price, the difference between the SP and CP is the gain
Clearly,
Selling Price > Cost Price
It means a profit has been earned
Since,
Profit = Selling Price – Cost Price
Profit = 900 – 600
Profit = ₹ 300
Now, we have to calculate profit percent

= 50 %
So, the Profit % is 50 %

Answer: b) ₹ 175

Explanation
Selling Price = ₹ 140
Loss = ₹ 35
Cost Price = ?
When loss is suffered, , the Cost Price would be more than Selling Price
Therefore,
Loss = Cost Price – Selling Price
Or we can say,
Cost Price = Selling Price + Loss
Cost Price = 140 + 35
Cost Price = 175
So, Cost Price = ₹ 175

Answer: a) ₹ 177

Explanation
Cost Price = ₹ 240
Loss = ₹ 63
Selling Price = ?
When the loss is suffered by Seller, then the Selling Price would be less than the Cost Price
Therefore,
Loss = Cost Price – Selling Price
Or we can say,
Selling Price = Cost Price – Loss
Selling Price = 240 – 63
= 177
So, Selling Price = ₹ 177

Answer: a) ₹ 132

Explanation
Cost Price = ₹ 110
Profit = ₹ 22
Selling Price = ?
When profit is earned, then the selling price would be more than the cost price
Therefore,
Profit = Selling Price – Cost Price
Or we can say,
Selling Price = Cost Price + Profit
Selling Price = 110 + 22
Selling Price = 132
So, Selling Price = ₹ 132

Answer: c) Loss = ₹ 25

Explanation
Cost Price = ₹ 225
Selling Price = ₹ 200
Cost Price ( CP ) = Price at which an Article is purchased.
Selling Price ( SP ) = Price at which the Article is sold.
Since, Cost Price > Selling Price this indicates there is a loss
Therefore,
Loss = Cost Price – Selling Price
Loss = 225 – 200
= 25
So, Loss = ₹ 25