What is Value?
Let us consider a 7 digit number: 7,456,391
Here, place value of 6: thousands or 1000s
face value of 6: 6 or six
value of 6: 6000 or six thousand
Place Value
Place value refers to the value of the column in which the number is. Each column in a number holds a different place value.
For instance: If we consider a number 45. Here the digit 4 is in the tens column. Hence, the place value of the digit 4 is tens or 10s.
Face Value
The face value of a digit is the same digit, irrespective of the column in which the digit is.
For instance: If we consider a number 45. Here the digit 4 is in the tens column. Hence, the face value of the digit 4 will be 4 or four.
Value
The value refers to the worth of each digit depending on where it lies in the number. We calculate it by multiplying the place value and face value of the digit.
| Value = Place Value × Face Value |
For instance: If we consider the number 45. Here digit 4 is in the tens column. Hence, the value of the digit 4 will be i.e. 40 or forty.
Let us consider the number 7,456,391.23
The place value, value and face value of all the digits are given below:
| Digits | Place Value | Value | Face Value |
| 7 | millions or 1000000s | 7,000,000 | 7 |
| 4 | hundred thousands or 100000s | 400,000 | 4 |
| 5 | ten thousands or 10000s | 50,000 | 5 |
| 6 | thousands or 1000s | 6,000 | 6 |
| 3 | hundreds or 100s | 300 | 3 |
| 9 | tens or 10s | 90 | 9 |
| 1 | ones or 1s | 1 | 1 |
| 2 | tenths or 0.1s | 0.2 | 2 |
| 3 | hundredths or 0.01s | 0.3 | 3 |
Example 1: Work out the place value, face value and value of 6 in the number 56,523.22.
Solution: Putting this number in the place value chart, we get
Hence,
Place Value of 6: thousands or 1000s
Face Value of 6: 6 or six
Value of 6: 6 × 1000 = 6000 or six thousand
| Fun Facts – The place value numeration system has been derived from the Hindu Numeral System. |
