Liquor is a mixture of alcohol, water, and various cogeners, depending on the type. The amount of alcohol in liquor can very from .5%, as found in "non-alcoholic" beer, to 95%, as can be found in Everclear.
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Standard Malibu Rum is 21% alcohol by volume. The difference variants of Malibu are 21-24%.
Malibu Rum used to be 28% so older bottles (pre-2002?) were produced to be stonger.