Hello ruplun,
According to https://www.mba.com/the-gmat/gmat-scores ... means.aspx and https://www.testmasters.net/gmat/Information/scale.aspx it seems that a 540 is in the 45th percentile. Here https://www.platinumgmat.com/about_gmat/ ... _breakdown it shows as 48th percentile. Based off of other articles, I think it is closer to the 50th percentile than the 40th percentile.
Hope this helps,
--Rishi
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rishimaharaj
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