Hi Pawan,
Using your example range; if you had 5V/div and 10 divisions, the vertical range would be 50V.
With the 8 bits, there would be 2^8= 256 voltage levels represented across 50V. 50 Volts/256 levels = 0.1953125 V per level.
The scope may use some bits to detect clipping on the signal though.
As for the programmable amplifier, what scope are you using/referring to?
Best,
Iris Xu