Nikon L120 has a 14.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features Expeed C2 processor. On the other hand, Sony RX1R has a 24.0MP Full frame (35.8 x 23.9 mm ) sized CMOS sensor .
Sony RX1R's sensor provides 10MP more than Nikon L120's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
One other difference between these two cameras that is worth mentioning is that Sony RX1R's sensor doesn't have an anti-alias (Low-Pass) filter. Removing anti-alias filter increases the sharpness and level of detail but at the same time, it increases the chance of moire occurring in certain scenes.
Below you can see the L120 and RX1R sensor size comparison.
![Nikon L120 vs Sony RX1R Sensor Size Comparison]()
Sensor Size and Resolution Comparison image of Nikon L120 and Sony RX1R Cameras
As seen above, Sony RX1R has a 30.5x Larger sensor area than Nikon L120. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.