To answer this question, we can proceed as follows:
1. The original price of the item was $60.
2. If the price of this item has been reduced by 5%, we need to find the 5% of the original price as follows:
[tex]5\%=\frac{5}{100}\Rightarrow5\%(\$60)\Rightarrow\frac{5}{100}\cdot\$60=\frac{\$300}{100}=\$3[/tex]3. Therefore, the price of the item now is:
[tex]P_{\text{item}}=\$60-\$3=\$57[/tex]In summary, the price of the item now is $57.
[From the question, we have that the words "reduced by" imply a subtraction.]
