Understanding cost price and selling price helps Grade 5 students connect math with everyday buying and selling. Whether they are purchasing a book, toy, school supply, or snack, students can use these concepts to understand how much an item costs and how much it is sold for. Cost Price and Selling Price Worksheets for Grade 5 give students practical practice with cost price, selling price, profit, loss, and money word problems. These activities are designed to build calculation skills, improve mathematical reasoning, and help students confidently solve real-life money problems.
What Are Cost Price and Selling Price?
Cost Price (CP) is the amount of money paid to buy an item. Selling Price (SP) is the amount of money for which that item is sold. Understanding the difference between these two prices helps students solve everyday money problems and learn about profit and loss.
Example:
- A shopkeeper buys a notebook for $4. The cost price is $4.
- The shopkeeper sells the notebook for $6. The selling price is $6.
Another example: If a toy is bought for $10 and sold for $8, the cost price is $10 and the selling price is $8. Students can use these values to determine whether the seller makes a profit or loss.
Understanding Profit and Loss
When students know the cost price (CP) and selling price (SP) of an item, they can determine whether a seller makes a profit, a loss, or neither.
- Profit: A profit occurs when the selling price is greater than the cost price.
Example: A book is bought for $5 and sold for $7. The profit is $2. - Loss: A loss occurs when the selling price is less than the cost price.
Example: A toy is bought for $10 and sold for $8. The loss is $2. - No Profit or Loss: There is no profit or loss when the selling price and cost price are equal.
Example: A pencil case is bought for $6 and sold for $6. There is no profit or loss.
Cost Price and Selling Price Formulas for Grade 5
Use these simple formulas to help students solve cost price, selling price, profit, and loss problems. Students should first identify what information is given and then choose the formula they need.
| What You Need to Find | Formula |
|---|---|
| Profit | Selling Price − Cost Price |
| Loss | Cost Price − Selling Price |
| Selling Price when there is a profit | Cost Price + Profit |
| Selling Price when there is a loss | Cost Price − Loss |
| Cost Price when there is a profit | Selling Price − Profit |
| Cost Price when there is a loss | Selling Price + Loss |
Example
A toy has a cost price of $12 and is sold for $15.
Profit = Selling Price − Cost Price
Profit = $15 − $12 = $3
So, the seller makes a $3 profit.
Helpful Tip: If the selling price is higher than the cost price, there is a profit. If the selling price is lower, there is a loss.
How to Solve Cost Price and Selling Price Word Problems
Follow these simple steps to solve each problem:
- Find the Cost Price (CP) – How much was the item bought for?
- Find the Selling Price (SP) – How much was the item sold for?
- Compare CP and SP – Higher SP means profit; lower SP means loss.
- Choose the correct formula – Use the profit or loss formula.
- Calculate carefully – Solve the required operation.
- Write the answer – Include the correct money unit.
Example: A toy costs $8 and is sold for $11.
Profit = $11 − $8 = $3.
Get Your Cost Price and Selling Price Worksheets for Grade 5 Here
These worksheets cover cost price, selling price, profit, loss, formulas, and money word problems through age-appropriate activities. They are suitable for classroom practice, homework, tutoring, homeschool learning, or independent math review.
Identify the Cost Price and Selling Price
This worksheet helps Grade 5 students understand the difference between Cost Price (CP) and Selling Price (SP) through simple, everyday buying and selling examples. Students will identify each price, match key terms with their meanings, and complete short statements to strengthen their understanding of cost price and selling price.
Find the Profit or Loss
This worksheet gives Grade 5 students practice comparing Cost Price (CP) and Selling Price (SP) to identify and calculate profit or loss. Students will solve simple money problems, determine whether each situation results in a profit or loss, and build confidence using basic profit and loss formulas.
Find the Missing Cost Price or Selling Price
This worksheet helps Grade 5 students use simple cost price and selling price formulas to find missing values. Students will practise finding the missing CP or SP and solve straightforward money problems to strengthen their calculation and reasoning skills.
Cost Price and Selling Price Word Problems
This worksheet helps Grade 5 students apply cost price, selling price, profit, and loss concepts to realistic everyday situations. Students will solve word problems based on school supplies, toys, books, sports equipment, snacks, and small shops, including both profit and loss situations.
Real-Life Profit and Loss Challenge
This challenge worksheet gives Grade 5 students mixed practice with cost price, selling price, profit, and loss through real-life situations. Students will solve multi-step problems, compare selling situations, explain their reasoning, and tackle a few challenge questions that encourage deeper mathematical thinking.
Common Mistakes Students Make
- Confusing CP with SP.
- Subtracting in the wrong order.
- Calling every difference a profit.
- Forgetting whether SP is higher or lower than CP.
- Ignoring dollar/cent or other money units.
- Using the wrong formula.
Explore More Worksheets-
- Canadian Government Worksheets for Grade 5
- American football worksheet for kids
- Descriptive and Limiting Adjectives Worksheets for Grade 5
- Human Impact on the Environment Reading Comprehension Worksheets
- Halloween Axolotl Coloring Page: Cute & Spooky Printable Designs
- Kawaii Axolotl Coloring Page Free
- Practice cursive writing step by step with free printable worksheets
- Free Printable Double Entendre Worksheets
- Cursive writing practice sheets from full paragraphs
- Download ALL *LATEST* Practice Sheets For Kids
- Master Cursive Writing with These Fun Worksheets!
- *ALL New* Cursive Writing Paragraph sheets For kids for Kids Learning Writing
- Explore Printable Personal Goal Development Worksheets
Frequently Asked Questions About Cost Price and Selling Price Worksheets for Grade 5
What is the difference between cost price and selling price for Grade 5 students?
Cost price (CP) is the amount paid to purchase an item, while selling price (SP) is the amount for which the item is sold. Understanding CP and SP helps students solve Grade 5 money math and profit and loss problems.
How do you calculate profit and loss in Grade 5 math?
To find profit, subtract the cost price from the selling price: Profit = SP − CP. To find loss, subtract the selling price from the cost price: Loss = CP − SP. Students can practise these formulas with Grade 5 profit and loss worksheets.
How can cost price and selling price worksheets help Grade 5 students?
Cost price and selling price worksheets for Grade 5 provide practical exercises involving buying, selling, profit, loss, and money word problems. They help students improve calculation skills and apply math concepts to everyday situations.