This study was focused on the synthesis of silver nanoparticles using Acalypha hispida leaf extract and the characterization of the particles using UV–Vis spectroscopy, XRD, FT-IR, and TEM. The results showed the formation of silver nanoparticles, crystalline in nature, with an average size of 20–50 nm. The leaf extract components were analyzed with GC–MS and exhibited a high content of Phytol (40.52%), n-Hexadecanoic acid (9.67%), 1,2,3-Benzenetriol (7.04%), α-d-Mannofuranoside methyl (6.22%), and d-Allose (4.45%). The optimization and statistical investigation of reaction parameters were studied and maximum yield with suitable properties of silver nanoparticles was obtained at leaf extract volume (0.5 mL), the concentration of silver nitrate (1.75 mM), and reaction temperature (50 °C). The method of detecting Mn2+ ions using the colloidal silver nanoparticles was discussed. The minimum and maximum detection limit were found to be 50 and 200 µM of Mn(II) ions, respectively. Thus, the obtained results encourage the use of economical synthesis of silver nanoparticles in the development of nanosensors to detect the pollutants present in industrial effluents.