Step 1: Relation between vernier and main scale.
\[
50 \, \text{VSD} = 48 \, \text{MSD}
\Rightarrow 1 \, \text{VSD} = \frac{48}{50} \, \text{MSD}
\]
Step 2: Define least count.
\[
\text{Least Count} = 1 \, \text{MSD} - 1 \, \text{VSD}
\]
Step 3: Substitute values.
\[
\text{LC} = 1 - \frac{48}{50} = \frac{2}{50} \, \text{MSD}
\]
Step 4: Convert into mm.
\[
\text{LC} = \frac{2}{50} \times 0.05 = 0.002 \, \text{mm}
\]