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Yes. Cells can have formatting applied before data is entered so that when data is entered it can be in the approrpiate format. This is handy in the case of percentages as it allows people to start typing whole numbers in and for those to be made into percentages. So for example, if it is formatted to percentage and you type 5, Excel will automatically put the percentage symbol in after it and treat it as 5%. However if you type 5 into a cell and then format it to percentage, it will become 500%, which is correct, so people have to remember to type 0.05 if they want it to be 5% after it is then formatted.

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