Final answer:
Akhil's income is 20% less than that of Nikhil's
Step-by-step explanation:
Akhil's income is 20% more than that of Nikhil. In order to find out how much percent Akhil's income is less than that of Nikhil's, we need to calculate the difference between their incomes and express it as a percentage of Nikhil's income.
Let's assume Nikhil's income is represented by x. Akhil's income would be 20% more than x, which is expressed as 1.2x. To find out how much percent Akhil's income is less than Nikhil's, we can calculate the percentage difference by using the formula:
Percentage Difference = (Akil's Income - Nikhil's Income) / Nikhil's Income * 100
Substituting the values, we get:
Percentage Difference = (1.2x - x) / x * 100 = 0.2x / x * 100 = 20%
Therefore, Akhil's income is 20% less than that of Nikhil's.