Text box is html tag input of type text. It don't have text attribute.
It have value attribute. So:
var val = (abc/ efg)*100;
document.getElementById("<%=txt1.ClientID%>").value= val;
That should working fine.
And hint: Use firebug (FF), developer tools (IE), OperaDragonfly etc. to check JS errors of you code. This will save you tons of time.