Step 1: The tension in the string depends on both the centripetal force and the gravitational force acting on the stone. At the highest position, the stone is moving upwards, and gravity opposes the tension in the string.
Step 2: The tension in the string is given by the equation: \[ T = \frac{mv^2}{r} - mg. \] At the highest position, the tension is the smallest because the gravitational force acts in the same direction as the centripetal force.
Step 3: Hence, the tension in the string is minimum at the highest point of the circular path.