Archive manager
 

Kindly tell me the exact importance of archive manager in Linux.

Also help with the information regarding how to use it

They are quite important if you want to archive files in Linux.

You'd have to be more specific. There are a few of them supporting a number of formats. You'd have to be more specific.

Ark (Qt-based manager) is a good option. Also try to learn how to use console programs for archives. For example to unpack a *.rar file you can do:
which will extract all files from file.rar to current directory.

Use p7zip to extract or compress your files ..Search it in synaptic package manager or install it as
just right click on any archive and you will see extract here option....
for compression select the object and right click you can see compress.. then select your archive type..

Why hasn't anyone mentioned tar? It's the most popular archive format among Unix users (just just Windows users almost always use zip).

Create a tar archive:

Extract a tar archive:

Note that tar is purely an archive format, with no compression. tar archives are commonly compressed with gzip, bzip2, or xz.

Modern versions of the GNU tar utility automatically detect common compression formats. And when creating an archive, you can either separately compress it after creating it, or use the "z" option for gzip, "j" for bzip2, or "J" for xz.