Answer Posted / jagan kumar(zylog systems ltd.

Transient
.........
Only variable can be declared as Transient, When
used as a Modifier in a variable Declaration it suggests
that a variable may not be return out when the class is
serialized

Volatile
.........
The keyword volatile can be used to declare
variables. The use of the keyword volatile in a variable
declaration suggests the compiler that multiple threads may
access the variable. Therefore the value of the variable
may change unexpectedly. A Compile time error will occur
declaring a variable both volatile and final.

Example for Volatile:
.....................

volatile int v = 0;
Thread 1:
v++;
Thread 2:
v--;

The questioners usually want the answer "v can only
be 0 after this code is run", because

volatile int v = 0;
Thread 1:
r1 = v;
r2 = r1 + 1;
v = r2;
Thread 2:
r3 = v;
r4 = r3 - 1;
v = r4;
So, if Threads 1 and 2 both read v and see the value
0, then Thread 1 will write 1 to it and Thread 2 will
write -1 to it. You are not guaranteed to see the value 0!

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