Nikon L21 has a
8.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Expeed C2 processor. On the other hand, Panasonic TS5 has a
16.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CMOS sensor .
Panasonic TS5's sensor provides 8MP more than Nikon L21'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.
Below you can see the L21 and TS5 sensor size comparison.
Sensor Size and Resolution Comparison image of Nikon L21 and Panasonic TS5 Cameras
Nikon L21 and Panasonic TS5 have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture. On the other hand, since Nikon L21 has 59% larger pixel area compared to Panasonic TS5, it has potential to collect more light on pixel level hence have less noise in low light / High ISO images.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Nikon L21
or the
Panasonic TS5 ,
including hyperfocal distance.