1. Place value is the basis of our entire number system. This is the system in which the position of a digit in a number determines its value. In the standard system, called the base ten number system (or decimal system), each place represents ten times the value of the place to its right.
2. 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
