Hi vivek1080,
Absolute Value is a relatively rare subject on the GMAT - it's likely that you'll see just 1-2 questions on in on Test Day. The basic idea behind absolute values is "distance from zero", meaning that negative measurements are viewed as positive... |2| = 2 and |-2| = 2 because both -2 and +2 are "2 away" from 0.
Depending on how an absolute value question is written, you might find it easier to use a Tactic instead of trying to do the implied algebra, so you would probably find it useful to either Google any absolute value questions that are giving you trouble or post them in the forums here.
GMAT assassins aren't born, they're made,
Rich