Auto update % Complete while whenever status is updated

Hi Everyone,

I have status column with drop down list of Not started, Cancelled, In progress and Completed.

I would love the percentage complete column to auto populate anytime update is been made on status column. I would love to have Not started and Cancelled as 0%, In progress as 50%, Completed as 100%.

Hope anyone would help me with the formula.

Thanks, in anticipation 

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