1. The place value chart represents the value of each digit in a number based on its position. 2. For example, in the number 5432, the place value chart is: Thousands | Hundreds | Tens | Ones 5 | 4 | 3 | 2 3. Here, 5 is in the thousands place, so its value is $5 \times 1000 = 5000$. 4. The 4 is in the hundreds place, so its value is $4 \times 100 = 400$. 5. The 3 is in the tens place, so its value is $3 \times 10 = 30$. 6. The 2 is in the ones place, so its value is $2 \times 1 = 2$. 7. Understanding place value helps in reading and writing numbers correctly and performing arithmetic operations.