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The value of a digit in a number depends on its position. For example, a 2 could represent 2, 20, 200 or even 2,000, depending on where it is placed.
The rules of place value are: starting from the right, the first position is ones (times number by 1), the second is tens (times number by 10), the third is hundreds (times number by 100), and the fourth is thousands (times number by 1,000). There are other values, like tenths, hundredths, ten-thousands and more
A quick refresher:
Reading from the right (after any decimal point):
The first number is in the ones’ position
The second number is in the tens’ position
The third number is in the hundreds’ position
The fourth number is in the thousands’ position
Example: 7 is the digit in the hundreds' place in 3,701.
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