In their simplest terms, LL and PL are water contents in the soil. I won't get into what each one means, but here is what the CERM is talking about.
w = water content expressed in decimal form
mw = mass of water
ms = mass of soil
mt = total mass
w = mw/ms
mt = mw + ms
If LL = 100%, then: w = 1.0 = mw/ms => mw = ms
If LL = 50%, then: w = 0.5 = mw/ms => mw = .5*ms => mt = ms + .5*ms = 1.5*ms
Just for grins, let's say LL=50 (w=0.5) and the total mass = 1.2g. Using the above equations, this leads to ms = 0.8g and mw = 0.4g. With LL=50, the CERM states the total mass is 2/3 soil and 1/3 water. 0.8 / 1.2 = 2/3 soil 0.4 / 1.2 = 1/3 water