CHAR is a Fixed Length Data Type. For example if you declare a variable/column of CHAR (10) data type, then it will always take 10 bytes irrespective of whether you are storing 1 character or 10 character in this variable or column. And in this example as we have declared this variable/column as CHAR(10), so we can store max 10 characters in this column.
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It stores fixed length of character. if you declare char(50) then it allocates memory for 50 characters. if you store 10 character word then it store it in 10 characters memory location and other 40 character's memory location will be wasted.
Char datatype can store upto 8000 bytes of fixed-length character.
VARCHAR is a variable length Data Type. For example if you declare a variable/column of VARCHAR (10) data type, it will take the no. of bytes equal to the number of characters stored in this column. So, in this variable/column if you are storing only one character then it will take only one byte and if we are storing 10 characters then it will take 10 bytes. And in this example as we have declared this variable/column as VARCHAR (10), so we can store max 10 characters in this column.