The price of an item has been reduced by \( 70 \% \). The original price was \( \$ 40 \). What is the price of the item now?

To find the new price after a \( 70\% \) reduction, first calculate \( 70\% \) of the original price of \( \$ 40 \). This is done by multiplying \( 40 \times 0.70 = 28 \). Next, subtract this amount from the original price: \( 40 - 28 = 12 \). So, the new price of the item is \( \$ 12 \). Reducing prices significantly, like \( 70\% \), can make items much more appealing to customers. Retailers often use deep discounts to clear inventory or boost sales during special promotions. It’s a classic strategy – who doesn’t love snagging a great deal on something they’ve had their eye on? When calculating percentages, one common mistake is forgetting to convert the percentage into a decimal form before using it in calculations. Remember, dividing the percentage by \(100\) gives you the decimal. So, \(70\% = 0.70\) – a crucial step to get that sweet price reduction!