I have got 487 out of 650 in sconce in Maharashtra Board exam in 2019 which in percentage terms works out to 74.92 %.Can I qualify for out?

Hey brother I think you have mistaken in understanding the board percentage eligibilty criteria.

It says that student must hold any of the above

1. Among the top 20%ile in your respective state borad of X11. This you can check at either JEE advanced or your state board offiicial site to find out your percentile.

2. To secure above 75% in your board exams.

With this if you have cleared the point 1 then no need to clear point 2 and hence the vice-versa.

Also if you are able to satisfy both the criteria (like me) then also you would be eligible for JoSAA.