The iron oxide has 69.9% iron and 30.1% dioxygen by mass.
Thus, 100 g of iron oxide contains 69.9 g iron and 30.1 g dioxygen.
The number of moles of iron present in 100 g of iron oxide are 69.955.8=1.25.
The number of moles of dioxygen present in 100 g of iron oxide are 30.132=0.94.
The ratio of the number of oxygen atoms to the number of carbon atoms present in one formula unit of iron oxide is 2×0.941.25=1.5:1=3:2.
Hence, the formula of the iron oxide is Fe2O3.