If a merchant offers a discount of 40% on the marked price of his goods and thus ends up selling at cost price, what was the % markup? 

If a merchant offers a discount of 40% on the marked price of his goods and thus ends up selling at cost price, what was the % markup? 
1). 42.85%
2). 58.54% 
3). 66.67%
4). 79.85%

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