What’s a good class rank?

I go to school in a campus (which used to be one giant school). Our graduating class has 116 people, and my rank is 8. The gc said this is excellent, but I’m not sure because of our size. About 1/3 of us are super competitive and take all APs possible and ivy hopefuls, while the rest just scrape by or are failing. The rank is weighted, and I have a feeling it would be higher if it wasn’t because I am taking many ap classes this year that others took previously, so they have a bump. (1-3 have averages above 100%) Around rank 21/22 is where averages are below 90.

Within the top 10% is usually good. However, vast majority of students admitted to top schools are within the top 10%.