some tips on determining the water amount
the 37.5% (often rounded up to 38%) is one of the standard methods of determining the water requirements when making cold and hot process bar soap. this amount is multiplied times the total oil amount.
 
there are occasions when this water amount is discounted. one instance is when making castile soap. since 100% olive oil, (i.e. castile soap), produces a softer bar, discounting is done to produce a firmer bar [out of the mold], cutting down the curing time the soap needs to harden.
 
another instance is that the success of the cold process oven process (cpop) method requires a water discount. when using the cpop method, i discount the water 20% ...which is the same as applying 30% (as opposed to 37.5%) to the total weight of the oils.
 
another standard method of determining the water amount is to use the 32.5:67.5 lye to water ratio. ironically, this ratio is [approximately] equivalent to the 37.5% [of the total oils] with a 20% discount. so, this method seems to have a discount built in, supporting the theory that the higher water amount is unnecessary...
 
...which raised the question, "is there any benefit to "not" discounting the water?" well, and this is just supposition, the soap mixture would remain softer longer, which would allow a longer time to "work" with it (e.g. swirling, etc.)
 
whatever the method used for determining the water amount and whatever your reason for discounting, avoid discounting too much as it could produce a bar that is brittle and possibly lye heavy because there was not enough water for the completion of the saponification stage. the lye to water ratio should never exceed 40%.