We know that the place value of any natural number will keep increasing ten times, as we move from right of a numbers towards it's left.
E.g. in a number 1234.
Place values of:
Digit 4 = 1 i.e. ones
Digit 3 = 1 X 10 = 10 i.e. tens
Digit 2 = 10 X 10 = 100 i.e. hundreds
Digit 1 = 100 X 10 = 1000 i.e. thousands
And you can see that if you move from left to right the place value started decreasing by onetenth.
E.g. in a number 1234
Place values of:
Digit 1 = 1000 i.e. thousands
Digit 2 = 1000 ÷ 10 = 100 i.e. hundreds
Digit 3 = 100 ÷ 10 = 10 i.e. tens
Digit 4 = 10 ÷ 10 = 1 i.e. ones
Now, in case of decimals we move from left of decimal point towards right and place values will further decreases by onetenth.
E.g. 1234.567
So the place values will be as:
Digit 1 = 1000 i.e. thousands
Digit 2 = 1000 ÷ 10 = 100 i.e. hundreds
Digit 3 = 100 ÷ 10 = 10 i.e. tens
Digit 4 = 10 ÷ 10 = 1 i.e. ones
Digit 5 = 1 ÷ 10 =  1 10  i.e. tenths 
Digit 6 =  1 10  ÷ 10 =  1 100  i.e. hundredths 
Digit 7 =  1 100  ÷  1 10  =  1 1000  i.e. thousandths 
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