What are decimal places?

The number of digits to the right of the decimal point, referring to the 10-powers of the fraction. e.g.:

3.142 is the value of pi to 3 decimal places, and can be analysed as.

It is 3 + (1 X 101) + (4 x 10-2) + (2 x 10-3)

or in Words 3 + (1 tenth) +(4 hundredths) + (2 thousandths).