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Gravitational potential energy is the energy an object has due to its position above Earth, energy due to its height. We know this energy exists because it takes effort to lift an object up to a height and also because when we release an object, it falls, gaining kinetic energy.
Gravitational potential as well as for electric potential, the potential is inversely proportional to distance between the particles (charged). But for electric potential the type of object as well as the size of the object also matters. Also for gravitational potential the size and mass of the object matters.