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Question: What is Place Value ?

Answer:

The digit 5 occurs in each of the numbers 563 258 1025 67.51 but it has a different value in each case because of its position. In 563 the 5 stands for 500. In 258 the 5 stands for 50. In 1025 the 5 stands for 5 units. In 67.51 the 5 stands for 5 tenths.

In the decimal number system, the value of each position is multiplied by 10 as you move from right to left.