580 ERW 530 Math PSAT
84% and 78% are what your scores translate into percentiles. (I'm sure you are already aware and see something similar on your PSAT report)
If the scholarship committee does in fact evaluate your academic performance and achievement and you say only 5% get accepted, then I would think twice about submitting my PSAT scores unless they were in the 95th percentile range.
To keep this community safe and supportive:
It has approx a 5% accept rate