Hi,

Well, this is a very simple question to answer. Suppose a student has got a marks of 550 and his/her percentile is 98.98 this simply means that he/she has crossed 98.98% of people who have attended the exam.

The formula for calculating your percentile on the basis of marks is:

(Your score/Highest score in the exam) X 100

Percentile score is a relative term. It tells how many candidates out of total scored less than you.
For example, suppose in a test, there are 100 candidates and you get 90th percentile, it means that 90 candidates scored less than you or you are in top 10 but it can't tell you what your rank is. It can be anywhere between 1 to 2.
Hope I was able to explain. Feel free to contact me if you still have doubt.

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