An item is regularly priced at $55 it is now priced at a discount of 65% of the regular price

$19.25

Step-by-step explanation:

Multiply 55 dollars by .65 to get the amount of money that is being dropped. 65% of 55 dollars is 35.75

Now subtract the original amount (55 dollars) by 35.75 dollars to get 19.25 dollars.

An easier way to do this is just by multiplying 55 dollars by the amount or percentage that is left so you multiply 55 by .35 and you will get the same answer.