DELETE TABLE VS. TRUNCATE TABLE

DELETE TABLE is a logged operation, so the deletion of each row gets logged in the transaction log, which makes it slow.

TRUNCATE TABLE also deletes all the rows in a table, but it won't log the deletion of each row, instead it logs the deallocation of the data pages of the table, which makes it faster. Of course, TRUNCATE TABLE can be rolled back.

SOURCE - http://www.learn.geekinterview.com/resources/interview-articles/sql-interview-questions-with-answers.html