What do u mean by precompiled statement? What is the difference between Statement and PreparedStatement?

A PreparedStatement is precompiled statement.
It means PreparedStatement compiles the SQL Statement in the first run itself. Thus, if the Statement is preparedStatement, you can run the Statement multiple times without having to compile it again and again. 
PreparedStatement "compiles" & runs the SQL Statement on the first run, & simply executes ( without compiling ) - it saves a lot of time.

It simply means that whenver you use a Statement, the SQL Statement is going to be  compiled and the execute but by using preparedStatement there is no need of compilation again and again, so it is faster than statement

http://www.geekinterview.com/question_details/6145