How will you work and handle Boss,who is less experienced than you with poor job knowledge but is there as a result of higher academic qualifications?

No chance unless people understand it themselves. And that's the biggest reason why organizations start failing. 

Conceptually, managers don't need to be technicall experts. And they need to succeed in order to grow and prosper. It is great if they know the technical issues they manage.

The answer of the question is that it will depend on the manager's attitude. If he/she got a positive attitude, working with him/her could be an opportunity for you to use you skills because he/she will encourage you and support you as you help him/her achieving the company's goals. Otherwise you probalby need to look for a new opportunity.