Meaning of 'cut the cost'

[Guest]

Test No. incompl/advan-9 "Finance (1)", question 5

You can ......... the cost of insuring your car if you keep it in a garage.

(a) refine
(b) drop
(c) cut
(d) slice

Test No. incompl/advan-9 "Finance (1)", answer 5

You can cut the cost of insuring your car if you keep it in a garage.

Correct answer: (c) cut
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answer please with some explanations thank you for advance

[Alan]

This means reduce here.
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