Concept:
Images formed by mirrors and lenses are classified as real or virtual depending on whether light rays actually meet or only appear to meet.
Difference between Real and Virtual Images:
\begin{center}
\begin{tabular}{|c|c|c|}
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Property & Real Image & Virtual Image
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Formation & Formed by actual convergence of rays & Formed by apparent convergence of rays
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Screen & Can be obtained on a screen & Cannot be obtained on a screen
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Nature & Usually inverted & Erect (upright)
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Location & Formed in front of mirror / other side of lens & Formed behind mirror / same side of lens
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Examples & Image by convex lens (beyond focal length), concave mirror & Plane mirror, convex mirror, magnifying glass
\hline
\end{tabular}
\end{center}
Explanation:
Real Image:
When reflected or refracted rays actually meet at a point, a real image is formed. Since light physically converges, it can be projected on a screen.
Virtual Image:
When rays only appear to meet when extended backward, the image formed is virtual. Since no actual convergence occurs, it cannot be caught on a screen.