Effective field goal percentage

In basketball, effective field goal percentage is a statistic that adjusts field goal percentage to account for the fact that three-point field goals count for three points, while all other field goals only count for two points. Its goal is to show what field goal percentage a two-point shooter would have to shoot at to match the output of a player who also shoots three-pointers.
It is calculated by:
where:

FG = field goals made
3P = 3-point field goals made
FGA = field goal attempts

A common criticism of this formula is that shooters with very high percentage success rates, which favor 3 point shots, would arrive at an eFG% above 100%.
It can also be calculated by:
where:

PPG = points per game
FT = free throws made
FGA = field goal attempts

The advantage of this second formula is that it highlights the aforementioned logic behind the statistic, where it is pretended that a player only shot two-point shots.
An additional formula that seems to be more in use by the statistics actually displayed on websites is:
where:

2FG = 2-point field goals made
3FG = 3-point field goals made
FGA = field goal attempts

All three equations yield the same result.