Place value is a fundamental concept in mathematics that describes the value of each digit in a number based on its position. The position of a digit in a number determines its value, and the place value of a digit increases by ten times as we move left on the place value chart and decreases by ten times as we move right. For example, in the number 13,548, 1 is in the ten thousands place and has a place value of 10,000, 3 is in the thousands place and has a place value of 3,000, 5 is in the hundreds place and has a place value of 500, and 4 is in the tens place and has a place value of 40. The face value of a digit never changes irrespective of its position in the number, whereas the place value of the digit changes with the change in position. Place value charts are a useful tool for identifying the positional values of numbers accurately. An understanding of place value is essential for learning operations, comparing numbers, lining up numbers vertically, and making sense of decimals.