Explain with example how oxidation number helps us to balance a chemical reaction ?
Before we will get to explanation very important disclaimer: oxidation numbers don't exist. They were invented to help in charge accounting needed when balancing redox reaction equations, but they don't refer to any real life chemical concept.
The general idea behind the oxidation numbers (ON) method for balancing chemical equations is that electrons are transferred between charged atoms. These charges - assigned to individual atoms - are called oxidation numbers, just to remind you that they don't reflect real structure of the reagents.
There are several simple rules used for assigning oxidation numbers to every atom present in any compound:
There are some exceptions to the rules 3 and 4 - for example oxygen in peroxides has oxidation number of -1, it is also not -2 in compounds with fluorine (where F is always -1), hydrogen in hydrides has oxidation number -1.