Value – Definition with Examples

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:

DigitsPlace ValueValueFace Value
7millions or 1000000s7,000,000 7
4hundred thousands or 100000s400,0004
5ten thousands or 10000s50,0005
6thousands or 1000s6,0006
3hundreds or 100s3003
9tens or 10s909
1ones or 1s11
2tenths or 0.1s0.22
3hundredths or 0.01s0.33

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

Place Value Chart

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.