Round Off in Two Decimal the Value (Percent)

 Steps to Reproduce:

1. Navigate to Customization > Lists, Records, & Fields > Item Fields > New
2. Enter a name on the Label field.
3. Set the Type field to Percent.
4. Check the box applicable.
5. Uncheck the Store Value field.
6. Click the Validation & Defaulting tab.
7. Enter the formula below on the Default Value field:
1-({cost}/{rate})
8. Save.

Result:
Unit Cost ({cost}) = 24.50
Selling Price ({rate}) = 39.88

Field value = 38.5657%

Solution:

1. Navigate to Customization > Lists, Records, & Fields > Item Fields
2. Edit the field.
3. Click the Validation & Defaulting tab.
4. Enter the formula below on the Default Value field:
ROUND(1-({cost}/{rate}),4)
5. Save.