Answer Posted / a.prabhakar

Purity :
It explains how pure our analyte is in the given mixture.
It is not related to the how much our analyte is in the given mixture.
i.e.: Percentage of a our analyte without impurities in HPLC.(Known or Unknown)
Assay:
It explains how much our analyte is in the given mixture (The content of our component in the given mixture).It is not related to analyte purity.
Potency :
It is measurement of our analyte how potent it is.
i.e: Purity of our analyte without all possible impurities like chromatographic impurities (HPLC, GC-Residual solvents, moisture, TLC), heavy metals, sulphated ash...etc

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