Practice using revenue, cost, and profit to understand basic business decisions for young entrepreneurs.
Read each problem carefully. Show your work in the space provided. Use the formulas revenue = price x quantity sold and profit = revenue - total cost.
Calculating how businesses earn, spend, and make money
Financial Literacy - Grade 6-8
- 1
Maya sells handmade bookmarks for $3 each. On Saturday, she sells 18 bookmarks. What is her total revenue?
- 2
A student sells lemonade for $2 per cup. The student sells 45 cups and spends $28 on lemons, sugar, cups, and ice. What is the profit?
- 3
Jordan makes keychains. The materials cost $1.25 per keychain. If Jordan makes 20 keychains, what is the total material cost?
- 4
A small business has fixed costs of $40 for a booth rental and variable costs of $2 for each bracelet made. If the business makes 30 bracelets, what is the total cost?
- 5
Talia sells candles for $8 each. Her total cost to make and sell 12 candles is $66. What is her profit?
- 6
A table shows a snack business: granola bars sold = 50, selling price = $1.50 each, total cost = $42. What are the revenue and profit?
- 7
Explain the difference between revenue and profit in your own words.
- 8
A dog-walking business charges $10 per walk. It completes 16 walks in one week. The business pays $12 for flyers and $8 for dog treats. What is the weekly profit?
- 9
A business sells phone charms. It earns $120 in revenue and has $95 in total costs. Did the business make a profit or a loss, and how much?
- 10
A bake sale earns $72 in revenue. The ingredients and supplies cost $85. Did the bake sale make a profit or a loss, and how much?
- 11
A chart shows three products sold at a school fair: stickers, bracelets, and pencils. Stickers earned $36 revenue with $18 cost. Bracelets earned $80 revenue with $50 cost. Pencils earned $25 revenue with $12 cost. Which product had the highest profit?
- 12
Sam wants to earn at least $60 profit from selling art prints. Each print sells for $5, and the total cost for supplies and printing is $40. How many prints must Sam sell to reach at least $60 profit?
- 13
A student starts a lawn care business. The student charges $25 per lawn and spends $6 on supplies for each lawn. What is the profit per lawn before any other costs?
- 14
A school club sells custom water bottles. The club pays a one-time setup fee of $30 and $4 for each bottle. They sell each bottle for $10. If they sell 15 bottles, what are the revenue, total cost, and profit?
- 15
An entrepreneur can choose between two prices for selling notebooks. Option A is to sell 40 notebooks at $3 each. Option B is to sell 25 notebooks at $5 each. If the total cost is $70 for either option, which option gives the higher profit?