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The problem states that the original price of an item was $58.94, and it has been reduced by $3.07. We are asked to find the new price after the reduction.

To solve:

\[
\text{New price} = \text{Original price} - \text{Reduction}
\]
\[
\text{New price} = 58.94 - 3.07 = 55.87
\]

The new price of the item is **$55.87**.

Would you like more details, or do you have any questions?

Here are five questions related to this:

1. What is the percentage reduction in price?
2. How would you calculate the new price if there were a 10% discount instead?
3. If the item was taxed after the reduction, how would you calculate the final price including tax?
4. How much would you save if the reduction was doubled?
5. What would the new price be if a different item with an original price of $75.50 was reduced by $5.25?

**Tip:** When solving price reduction problems, always subtract the reduction from the original price to find the final value.

The price of an item has been reduced by $3.07. The original price was $58.94. What is the price now?

Calculate the new price of an item after a reduction of $3.07 from the original price of $58.94. Learn how to solve simple subtraction problems related to price reductions. Suitable for students in Grades 4-6.

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