Place value defines the importance of a digit’s position in a number. It determines how much it contributes to the number’s value. In the decimal system, a digit’s value is ten times the value of the digit to its right.

A numerical value, the far right digit represents the ""ones"" place, and the digit to the left represents the ""tens"" place, the digit to the left represents the ""hundreds"" place, and so on.

Explanation: The given image shows 2 represents one’s place and 3 represents ten’s place and 6 represents a hundred’s place and 7 represents thousands' place and 5 represents ten thousand’s place and 2 represents a hundred thousand place and 1 represents a million place.