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If it's high that means it's very off and away from the actual value. If you find a low percent error it is very close or close to the true value.
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Yes, your percent error can be over 100%. This means that somewhere during your experiment you made a big error.
When Percent Equal 100%
Divide the calculated or estimated error by the magnitude of the measurement. Take the absolute value of the result, that is, if it is negative, convert to positive. This would make the percent error = | error / measurement |.