Simplify the following text for a Grade 10 native English-speaking person.
Original: Tincture of iodine is a disinfectant , usually 2-7 % elemental iodine , along with potassium iodide or sodium iodide , dissolved in a mixture of ethanol and water .
Simplified: Tincture of iodine is a disinfectant . It has iodine and potassium iodide dissolved in ethanol and water .