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Percentile indicates how many students have been outperformed by you in exam. Top 20 percentile means that you are ahead of 80% of the people.
To know more information you can refer below link
JEE Advanced top 20 percentile
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Percentile indicates how many students have been outperformed by you in any examination as it is calculated like -
Percentile = no. of student have marks lesser than you / total no. of students appeared in the exam X 100
Your percentile should be >= 80 or you should have have your board percentage greater than or equal to 75%
Hope this helps!!!!
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