The Percentile is a rank scored by the student in the CAT examination and secured after answers have been finalized and also depend upon the number of students appearing the same exam. There is a simple example to understand.
http://www.entrance1.com/course-details/mba/cat-exam-2017/31/5
http://www.entrance1.com/articles/cat-2017-pattern-and-syllabus/31/2
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