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well i was wondering if, there s a way in which one could compare these two theories on the ground that which one will provide more accurate answers to a given problem. Fuzzy logic always focuses on analysing between 0 and 1 and logic only dolls down to 0 and 1 , so does that imply that fuzzy logic provides us with more insight into a given problem or creates more parameters than necessary and compounds the problem ?

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If you want to extend your logic, simply read Jech's chapter about Forcing. In specifically the boolean valued model. Instead of using Just 0-1 you use a complete boolean algebra, which can be vastly richer than just $[0,1]$. –  Asaf Karagila Nov 27 '10 at 18:15
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This is the type of questions to which the answer should be obvious: It depends on what you want to do. If you are interested in practical things like decisions about some outcomes of an experiment or even electrical circuits, then fuzzy logic may be the choice.

Anyway, it is a generalization of two-valued boolean logic, which is just a small (and mathematically not that interesting) part of logic. For many applications, you do not even explicitly use truth values.

"logic vs. fuzzy logic" is the wrong question.

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