Final answer:
Calculate 25% discount on the original price of a backpack by dividing $29.95 by 4 to get $7.4875, rounding that to $7.49, and subtracting it from the original price to find the savings and new price.
Step-by-step explanation:
To determine the money saved on a backpack with an original price of $29.95 using a 25% off coupon, you need to calculate 25% of the original price and subtract this value from the original price.
First, find the discount amount: 25% of $29.95. To calculate 25% (or ¼), divide the original price by 4:
$29.95 ÷ 4 = $7.4875
Since we need to round to the nearest penny, the discount rounds to $7.49.
Next, subtract the discount from the original price:
$29.95 - $7.49 = $22.46
Therefore, the backpack's price after applying the discount coupon is $22.46, and the money saved is $7.49.