Subtract 3.4% from a total

[vikkitoria60]

I am looking for help with a formula that subtracts 3.4% from a total. The total amount is in cell K (£33.50) and I want the formula to subtract 3.4% from this total and appear in cell O.

Really appreciate your help
Thanks

 

[JoeMo]

in O1: =K1*(1-0.034)