Knowledge Check
The price of an item has been reduced by
Final Answer: The price of the item now is approximately
Step 1 :The original price of the item was $69.
Step 2 :The price of the item has been reduced by 95%.
Step 3 :To find the new price, we subtract the reduction percentage from 1 and multiply the result by the original price. In mathematical terms, this can be represented as:
Step 4 :Substituting the given values into the equation, we get:
Step 5 :Solving the equation, we find that the new price is approximately $3.45.
Step 6 :Final Answer: The price of the item now is approximately