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It means that if a certain percentage is required as eligibility criteria for IIT-Jam exam, then you should not have the percentage lesser that that, not even in decimals. For example if 55% is the minimum percentage required in your post graduate, then even 54.99% is not acceptable. You should not round of 54.99% to make it 55% and then apply for the exam. You should have 55% or above to be eligible.
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