¿Cuál es la diferencia entre Got it y Understood ?Puedes dar oraciones como ejemplo.

1) "Got it" is less formal, so it's not well suited for formal writing
2) "Got it" is instantaneous duration and represents an action that happened at a single point in time -- the moment you came to understand something. "Understood" can be either instantaneous or long duration, i.e. it can represent the one time transition from not understanding to understanding, or it can refer to a constant state of you understanding something. This makes it ambiguous when you use it in the past, so when you want to show that you understand something that was just explained to you, it is typical to either say "I got it" or "I understand (in the present)". "I understood" is less typical.