Hi Abha,
The term modulus comes from a Latin word that just means "small measure" (the diminutive form of "modus"). The modulus symbol is sometimes used in conjunction with equalities .For example , | x | < 1 means all the numbers whose actual size, irrespective of sign is less than 1. This means any walue between -1 and 1. Thus
| x | < 1 means -1 < x < 1
Similarly | y | >2 means all numbers whose actual size, irrespective of sign is greater than 2.
This means any value greater than 2 and any value less than -2. Thus
| y | > 2 means y > 2 or y < - 2