What is the difference between the place value of the digit $7$ in the two different places in the number 27307
A.6993
B.7300
C.307
D.30

Hint - To solve this problem, firstly we have to understand what is face value and place value. And then with the help of our theoretical knowledge, we will be easily approaching our answer and also learning some new terms and their concepts.

Complete step-by-step answer:
The key difference between place value and face value is that one deals with the position of the digit and the other represents the actual value of a digit, respectively. The number system is available and is essential for characterizing the digits into groups of tens, hundreds and even thousands.
Face Value: The face value (of any number) is represented as the value of the digit itself.
For example, the face value of digit 3 in no. 394 is 3 itself.
Place Value: The place value represented as the position of a digit in a number. For example, the place value of digit 3 in 394 in hundredth i.e. 3 $ \times $ 100=300th.

Place value of first 7=7000
Place value of second 7=7
Therefore,
Difference between both place values=7000-7=6993

So, the correct answer is option A – 6993

Note – Place value (unlike face vale) is represented as the digit multiplied wherever it is placed, either by hundreds or thousands. The place value of 0 is 0. Used to resolve the number system of a digit in a number.
Whereas Face value is represented as the digit itself within a number. The face value of 0 is the same as the place value, i.e. 0. Face value of a digit constantly remains the same irrespective of the position where it is located. Used to resolve the digit value of a number.