A store is having a three-day sale. On the first day of the sale, the price of an item is reduced by 10% from its regular price. Each day of the sale after the first day, the price of each sale item is reduced to equal 90% of its price from the previous day. One sale item has an original price of $10.00. What is the price for the item on the 3rd day of the sale?
First, we need to calculate the sale price for the item on the first day:
10% of $10.00 = $10.00 * 0.10 = $1.00
Sale price on the first day = $10.00 - $1.00 = $9.00
Now, we need to calculate the sale price for the item on the second day:
90% of $9.00 = $9.00 * 0.90 = $8.10
Finally, we need to calculate the sale price for the item on the third day:
90% of $8.10 = $8.10 * 0.90 = $7.29
Therefore, the price for the item on the 3rd day of the sale is $7.29.