Could anyone explain the difference in the meaning of word white written using following kanji or Kana?
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There is no difference in meaning between 白い and しろい. Both are an adjective that can be used attributively and predicatively as in:
白い花 White flower
肌が白い Skin is white.
You can read the Wikipedia article on Japanese writing system to understand which one to use in writing. Basically, kana is used when there is no corresponding kanji.
白 and しろ are a noun.
白を着る Wear a white (clothes)
It can be used as a noun modifier before another noun, for example:
白シャツ White shirt