Question

A department store is having a going-out-of-business sale. Each day, they reduce the price of every item in the store by 10% of the previous day's price until every item is sold. A jacket in the store is originally priced at $110. On Day 1 of the sale, the price of the jacket is $100. Assuming the jacket has not sold, what is the price of the jacket on the fourth day of the sale?

Answer 1

Day 2 10% of 100, $90
Day 3 10% of 90, $81
Day 4 10% of 81, $72.9