According to CBSE rules, if a students fails in more than one subject then he will be declared failed. But you can only right compartment exam for one subject. You have a chance to improve the exam you failed through improvement exam. candidate failing in two of the five subjects of external examination shall be placed in compartment in those subjects provided he/she qualifies in all the subjects of internal assessment. Within a month of result declaration CBSE gives you a chance for applying retest. Usually if you failed in more than one subjects you are considered as failed.. but if you perform good and got fas mark in the improvement exam you will be considered as passed
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