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The phrase "fifty percent off" refers to 1/2 of 1, in other words, "half". If I have an apple, and give you 50% of it, we each have half. Let's say a cookie recipe makes 4 dozen cookies, you can take "half " of the ingredients, meaning 50% less, and only make 2 dozen cookies instead.

"Half off" or "fifty percent off" in business/retail means a consumer/customer only pays half the price. It means the same as "buy 2 for 1 (price)". Of course, it is easier to figure out "half" when the price is equally divided by two, but often it is an odd number, so just think of it as "buy 2 for 1 (price)".

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