Value - Definition with Examples

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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 a number 45. Here the 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

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.

 

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