i'm trying to reduce the cost of a product by 5 per cent

i know that to so i multiply the cost by .05, correct

If you are talking about actually reducing the cost to make a product by 5%, then you need more information such as what are all of the costs that go into making said product?

If you mean how do you calculate what the new costs would be if you reduced them by 5%, then I would recommend following the first answer and multiply the cost by .95 to get the new cost.

There really is not enough info here to help you determine how to reduce the cost of manufacturing a product by 5% without knowing the costs associated with manufacturing said product.

If you multiply the cost by .05, that will give you the price you have to reduce. You would take the original price minus the answer you got

Instead, multiply by 0.95, which will give you 95% of the cost right off the math. This method is faster.

Example: something costs $2.00. instead of 2 x 0.05 = 0.10 and then 2 - 0.1 = $1.90

Just do:

multiply 2 x 0.95 = $1.90 .

Price x 0.95 = 5% discounted price. Or

Price - (price X .05) = discounted price.

Yes u are correct

i'm trying to reduce the cost of a product by 5 per cent

i know that to so i multiply the cost by .05, correct