Let M be Mary's income, T be Tim's income and J be Juan's income respectively.
Mary's income is 60% more than Tim's.
So, M=T+0.60T=1.60T
Since Tim's income is 40 percent less than Juan's income,
Tim's income equals to 100−40=60 percent of Juan's income or T=0.6J.
Substituting 0.6J for T in the first equation, we get
M=1.6(0.6J) or M=0.96J
Thus, Mary's income is 96% of Juan's income.