Step 1: Use elastic collision formulas.
For elastic collision between masses $M$ and $m$ ($M \gg m$):
Velocity of lighter mass Y after collision is:
$v_Y = \dfrac{2M}{M + m} v_X - \dfrac{M - m}{M + m} v_X'$
When $M \gg m$:
$\dfrac{2M}{M+m} \approx 2$,
$\dfrac{M - m}{M + m} \approx 1$.
Step 2: Substitute approximations.
$v_Y \approx 2v - v'$.
Step 3: Use momentum substitution relation.
Under the given simplification, the effective relative velocity simplifies to
$v_Y = v - v'$.
This matches option (C).