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?
Explain your answer
On the first day of the sale, the price of the item is reduced by 10%, so it becomes $10.00 - $1.00 (10% of $10.00) = $9.00.
On the second day of the sale, the price of the item is reduced by 10% from the previous day's price, so it becomes $9.00 - $0.90 (10% of $9.00) = $8.10.
On the third day of the sale, the price of the item is reduced by 10% from the previous day's price, so it becomes $8.10 - $0.81 (10% of $8.10) = $7.29.
Therefore, the price for the item on the 3rd day of the sale is $7.29.