Hi Sanjay,
The information on this topic is widely available on this forum. Rather than explaining it once again, I'd point you to the documents / links.
Please refer to the document here to understand the concepts behind table partitioning.
Some threads;
http://scn.sap.com/thread/3334993
http://scn.sap.com/thread/3171886
This will help you understand partitioning better. If you have any more specific questions, please feel free to post it.
Regards,
Ravi
