Class 1 Exam > Class 1 Notes > Mental Maths > Worksheet: Profit & Loss
Worksheet: Profit & Loss | Mental Maths - Class 1 PDF Download
| Table of contents |
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| Understanding Profit and Loss |
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| Identifying Profit and Loss |
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| Simple Problems |
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| Fun Activity |
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Understanding Profit and Loss
1. Circle the correct answer:
- If you buy a toy for ₹50 and sell it for ₹60, you make:
(a) Profit
(b) Loss - If you buy a book for ₹30 and sell it for ₹25, you make:
(a) Profit
(b) Loss
2. Fill in the blanks:
- If you buy a ball for ₹20 and sell it for ₹30, you make a _________ of ₹10.
- If you buy a pencil for ₹10 and sell it for ₹7, you make a _________ of ₹3.
Identifying Profit and Loss
3. Draw a happy face if you make a profit, and a sad face if you make a loss:
- Buying a chocolate for ₹20 and selling it for ₹25
- Buying a pencil for ₹10 and selling it for ₹5
4. Complete the sentence:
- I bought a toy for ₹50 and sold it for ₹70. I made a _________ of ₹20.
- I bought a book for ₹40 and sold it for ₹30. I made a _________ of ₹10.
Simple Problems
5. Solve the following:
- You buy a ball for ₹25 and sell it for ₹30. What is your profit?
Profit = ₹__________ - You buy a notebook for ₹15 and sell it for ₹10. What is your loss?
Loss = ₹__________
6. Tick (√) the correct answer:
- If you buy a toy for ₹60 and sell it for ₹80, your profit is:
(a) ₹10
(b) ₹20
(c) ₹30
Fun Activity
7. Draw a picture of a shop where you sell toys and write the price of the toys you sell.
- Example: Toy A = ₹50, Toy B = ₹60
8. Colour the profit and loss signs:
- Colour the "Profit" sign in green and the "Loss" sign in red.
The document Worksheet: Profit & Loss | Mental Maths - Class 1 is a part of the Class 1 Course Mental Maths.
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FAQs on Worksheet: Profit & Loss - Mental Maths - Class 1
| 1. What is the difference between gross profit and net profit? |  |
Ans. Gross profit is the total revenue minus the cost of goods sold, while net profit is the gross profit minus all other expenses, including operating costs, taxes, and interest.
| 2. How can a business increase its profit margin? | |
Ans. A business can increase its profit margin by increasing sales revenue, reducing costs, improving operational efficiency, and raising prices strategically.
| 3. What are some common expenses that can impact a company's profit and loss statement? | |
Ans. Some common expenses that can impact a company's profit and loss statement include salaries and wages, rent, utilities, marketing costs, inventory expenses, and taxes.
| 4. How does depreciation affect a company's profit and loss statement? | |
Ans. Depreciation is a non-cash expense that reduces a company's reported profits on the income statement. It reflects the gradual decrease in value of a company's assets over time.
| 5. What is the significance of analyzing a company's profit and loss statement? | |
Ans. Analyzing a company's profit and loss statement helps stakeholders understand the financial health of the business, identify areas of strength and weakness, make informed decisions, and plan for future growth and profitability.
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