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 the regular price each day the sale after the first day the price of each item sale is reduced by 90% of the price from the previous day. One sale item has an original price of $10. What is the price of the item on the third day of the sale.
On the first day of the sale, the price of the item is reduced by 10%, making it $9.
On the second day of the sale, the price of the item is reduced by 90% of $9, which is $8.10 (10% of $9).
On the third day of the sale, the price of the item is reduced by 90% of $8.10, which is $7.29 (10% of $8.10).
Therefore, the price of the item on the third day of the sale is $7.29.