Both the mathematical words, percentage, and percentile, are utilized in many circumstances in our daily lives to arrive at answers for specific issues. We often get confused in defining the meaning of these terms, as they sound similar, but they are not. The fundamental distinction between a percentage and a percentile is that the percentage is a numerical figure provided out of 100, but the percentile is the proportion of values below a certain value. A percentage is a unit of measurement used to compare amounts. A percentile is a metric for expressing position or rank. Let us thoroughly learn about both the terms and then, with proper knowledge, differentiate them.
Percentage: The percentage is written or stated as a mathematical figure out of a total of 100. The symbol "%" signifies that the denominator is 100 and that percentage is a fraction that yields a decimal or a natural number. We may use the percentage to get information about ratios and proportions. When we utilize percentages instead of fractions having different denominators, it becomes easier to use and comprehend differences. The percentage is used in the banking and financial sector to calculate interest (simple and compound), small amounts from larger ones, and much more. The percentage is a straightforward way of normalizing distinct amounts for comparative reasons and also discounts on products. Not just commercial, the percentage is also used in scientific calculations like probability, volume and surface area, data handling, quantum physics, etc. As a result, we may conclude that the idea of % has a wide range of practical applications in our daily lives.
Percentile: The percentile is a mathematical term that describes the number below which a proportion of data lies; in simpler terms, a percentile is the percentage of values that fall below a set of predefined values. It is denoted using ‘xth’, for example, the 66th largest fish in the world. It's often used to compare a person's performance to that of others, as well as to calculate a variety of other things. The notion of percentile, for example, is used in exams to illustrate where an applicant stands in comparison to other candidates. In most ranking systems, percentiles are utilized. The best real-life example is the JEE Mains examination which is based on a percentile system and allows only students with scores above the percentile to clear for JEE Advance. It is based on splitting the data into a normal distribution. Statistically, percentile can be used to sort a large amount of data.
Now that we have the basic idea about the difference between percentage and percentile let us look at some advanced differences that weren’t covered above.
Other Major Differences:
|Decimal numbers can also be used to express percentages. They can even be defined as ratios.
|Decimal numbers or ratios cannot be utilized to represent percentile. Only natural numbers express percentile.
|It is structured on a single-case scenario and doesn’t depend on a normal distribution.
|It is built on a comparison of one example to several other scenarios and depends on the normal distribution.
|The rank of the numbers has no bearing on the percentage
|The rank of the numbers does determine the percentile.